How much are typical meals when eating out in Quito? Here in the US its usually around $5 give or take. Im planning to do a homestay when studying Spanish, but I might also stay at a hostel later on and I need to budget.

you can get set meals with soup, a main and drink for 1 usd. A good rest for ribs and soup is about 7.50. Maccas had a 1.25 usd big mac special. A kebab is 1 usd. My hostel is 6 usd a night own room. Its cheap.

Others - movie 4 usd ea, beer 1 usd to 1.50 usd, hot chocalte in coffee rest 1.50 usd, juice fresh from bkfst store 50 c, stew in irish pub, free bowls, internet from 40 c to 1 usd an hr, wireless free in some cafes, washing .32 c a pound,
DO i see only american typicall food up there and things to do in those post...
Well typicall ecuadorian food should cost you no more than 3 U$D just be carefull where you eat it, the best way to find the best places to eat is through locals... so if you do choose a homestay ask them al about Ecuadorian foon... I could give you some pointers if you come to Riobamba.,,.
Wlady

Maybe a little off topic, but if you need a really nice place to stay in Quito, try the VIC
Prices are maybe higher than hostels, but it goes to a good cause and I can guarantee you will feel at home there. There is also an excellent crepes place next door ;-)

You can get Almuerzos and Meriendas (set meals) in some places for US$1.50-2.00 - usually 2-3 courses. They are quite filling - just go to places where there are lots of Ecuadorians eating and you'll find good meals.
@ bob...
Dude things have changed in the past 20 - 30 years... guatita for 15 cents... c´mon... where...
I think you should give up on giving advice here. or at least come and get into date!!!! movien in old town for 6 cents..... I think the theater might not exist and if it dos it should be broke..
HAHA
Good one bob no wonder you had a good time!! haha
Wlady
well pity... is not the 80´s any more...
This fellows are travelling 2007...
My english is good enough to understand that your advice was worthless for todays needs....
you seriously have no idea of Ecuador....
Oh now racist comentaries here ay!.. good to hear from you bobby... if you try to offend me by calling me an indio... that stopped being an offence a long time ago, red necks are not welcome here any more...
I´m sure you´d like to come down here and lynch this boy huh!!!!
Is ok bobby hate all you want,.... This indio don´t mind..
Wlady