Hotels and alternatives
Monastir has plenty of hotels, but almost all are expensive, and aimed at package tourists. There are only a few budget options, as well as a youth hostel.
Restaurants and alternatives
Similar to hotels, there are few options for hungry budget travellers. People with more money to spend, will have more options, but in general Monastir is town where many tourists eat in the hotel.
Fairly good, if you go to the hotels. Here your options will include bars and Western style discos.
No problems. Banks, ATMs and exchange service in the receptions in the better hotels. Many shopkeepers will accept to be paid by VISA or MasterCard, provided that you buy above 10-15 dinars.
Acceptable connections with principally Sousse up north. The best, and cheapest way of getting to Sousse is however with the local train. This will take about 10 minutes longer to get there, but costs only 1/6 of a taxi ride (approx. 1.400 dinars, while the taxi ride costs around 10 dinars).
If you're going to Mahdia, the local train is also an option, but takes long time.
If you're going to more remote destinations in Tunisia, go to Sousse first, and get your final connection there.