Hey I will be travelling to Madrid in a couple of weeks and I would like to know what´s the most interesting places I should visit in the city and out of the city as well...like for example a trip to Aranjuez? anyone has some info about that?.. and I would also like to get some tips about lodging in the city center...a nice place with economical prices maybe...

Can you define "economical" in either euros or dollars. And what do you mean by "nice" - specific amenities.

IMHO the major sights of Madrid are the Royal Palace, the major museums and the Plaza Mayor. Toledo for a day trip. Other than that I find other parts of Spain much more interesting.

Take a look at esMadrid.com to see what's happening while you'll be in Madrid. As far as accommodations go, you can check out what Maribel recommends in her Madrid Hotel Guide (www.maribelsguides.com) in all price ranges.

Please take a look at some guidebooks-Fodors, Rick Steves or Lonely Planets are a good start. There are many attractions in Madrid but unless we know your budget and interests, it's useless to recommend anything.

Madrid is a great city for those who like art, flamenco and nightlife. Depends what your interest is.
Easy day trips to places like Toledo, Segovia, Avila, Alcala de Henares, Aranjuez , El Escorial are an option.

Madrid is a beautiful city and there´s always something interesting to do... from flamenco shows to visiting museums or going to a musical like the Lion King for example. Aranjuez is nice to visit but I think more during spring or summer in order to get a trip along the river and have the tipical strawberries with cream!Now you could try Toledo as @nytraveler and @danon recommend you. About lodging I know about a good hostel in the city center with prices starting from 35€, here is their website www.hostal-laplata.com/en Good luck!

Aranjuez is an easy day trip on cercanías train. We took it from Sol, about 45 min o/w. You can see Royal Palace & very nice parks & gardens; Jardin del Principe is one of the biggest I've been to. The whole trip should be under 20€ including palace entrance. http://www.aranjuez.com/ Segovia & Toledo are also easy day trips.

Central Madrid has very impressive architecture. Daytime attractions are Royal Palace, Plaza Mayor, Prado & Reina Sofia museums, Retiro park, etc. At night yo visit areas around Gran Via with numerous restaurants, bars & shows