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Cheap places to stay in Edinburgh?

Can anyone recommend some cheap places (really don't want to be paying much more than £50 a night - but think this is probably asking too much from what I've found!) to stay in Edinburgh in August?
I know, I know, terrible time of year to be asking this question for a city centre but I would really like to go to the Fringe for a few days :)

Won't have a car so preferably we would like to be in the centre within walking distance from everything. I don't know the area at all though so if there is somewhere with good transport links into the centre that we could stay (but somewhere that would still be near a few small shops/takeways or something) that would be fine too :D

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