For the past year I have been running fixed "marker lights" on the front and rear for daytime and night-time general roadway use, and have a separate strap-on torch to light the MUP or dark roads at night-time. These lights do not fit the OP's budget, but FWIW, here they are:

1. Front and rear markers: Sparse.cc "fixed light" system
2. Light and Motion 500 lumen torch with a custom light-shielding cowl.

The Sparse fixed lights are great as marker lights, because they are difficult to steal (2 years on my urban bike so far), so no need to fuss with taking them on and off, also they have various blinking and steady modes and are USB charged.

The Sparse headlight is not good for lighting the road however, therefore my need for the separate torch.