I have owned and used binoculars that cost $100 or less and have never been that impressed with the quality. They would typically suck in low light (a lot of great hunting happens then), be a little harder to get a sharp focus on overcast or foggy days and sometimes weren't bright enough in heavier brush or trees.
A buddy of mine received a pair of Redfield binoculars (I think it was the Rebel model) for a thank you gift a couple years ago. He was impressed with the quality during daylight and at low-light. They were well built and seemed like they would last (he still has them). They seem to go for around $150 nowadays although I think they were on some kind of sale back then for around $125. I tested them in evening low light on a deer hunting trip and was very impressed.
It's your money and only you know how long it would take to save a little bit more (up to $150 or so). If you're able to do so, it would likely end up in you being able to buy a surprisingly good pair of binos (much better than a $100 model) that you would use for a long time and feel like you got your money's worth.
Hopefully this helps some. Let us know how it works out.