Lets put it this way. I archery hunted a long time before I got a range finder. I started archery hunting way before compounds came out. Today a combination of a lot of practice at extended known ranges with a compound bow and a range finder are a deadly combination. My practice sessions usually include shooting out to 70 yards. (My pins are set in 10 yard increments from 20 - 70 yards.)
My advice is get a decent range finder when you can afford one. But if you can't afford one, don't let it stop you from hunting. Just practice your distance judging. Find a couple known distances and pace them off to see how many natural steps it takes. Then when you're out walking, pick out an object, guess the yardage and walk to it. Remember too that terrain makes a big difference. Twenty yards in the woods seems a lot farther than 20 yards in a parking lot. Another trick is when you set up your stand, step off distances in several directions and put orange reflective tacks in the trees so you can see them from your stand. From them you can better estimate distance to an animal within that perimeter.
To clarify my above statement. I don't /won't shoot at an animal at 70 yards. That is only for practice which magnifies any errors in my shooting. My maximum range for a calm relaxed animal is 49 yards.