$200 boots, can get +10 yrs of heavy use out of them.
The other advantage of better boots without the soft foam and cheap materials is that they usually end up more comfortable once they're broken in as well. It can be painful getting them there, but once they fit they're great.
Long-term they're a wise investment, but if the budget is tight now it might be necessary to skimp a bit and plan on getting a better pair when they've worn out. At least with my wife, it's usually easier to sneak in a single higher-end purchase at a time.
Oh, and you can also check thrift stores for cheap wool sweaters. My wife has found me merino wool for $5-10 before.