Cheap instruments aren't worth the effort, it's just painful to play most of them. It's so inspiring to play a nicely made instrument and I have a very low income but I've managed to buy 2 handmade ones(both made in canberra, by different luthiers).
I went into credit card debt with the bouzouki but I don't regret buying it at all, it's a friend that will be with me for always(unless it gets stolen, or hit by a bus). I have owned lots of cheapies but found I diddn't play them as often, for the obvious reasons