If you plan on riding for any real distance, the seat is the one thing you shouldn't cheap out on.

You can get used leather saddles for reasonable prices. There are other options besides Brooks that can be more/less expensive, depending on the brand. I got a "used" b17 that'd never been ridden or put on a bike for $90. Not bad considering they're $120 new. Not to mention it's easily the most comfortable saddle I've ever used.