Rather than worry about budget, personally I would decide on the type first and go from there. If you're not looking at getting a road bike -- which given your goals, I'm not so sure I would at this point -- then price isn't going to be that much of a sticking point. Personally, I think someone in your situation is well served by a hybrid and not a cruiser. A hybrid can serve most any need, as long as you're not looking to do long mileage and hills. And you can easily get one for under $500.