Got 4 bikes
£25 used Apollo CX10 700c hybrid all steel cheapo
Halfords jobbie for tatting around and shopping, can still average 15mph over a flatish 20 miles
£200 B'Twin Rockrider 5.2 MTB, Alu frame with basic front suspension and 24 speed Altus groupo, fine for my leisurely off road rides around the Peak District.
£300 Carrera Hybrid 700c light tourer, SRAM X4, 16 Speed, not the lightest machine, but can do 60 miles without discomfort.
£1000 (RRP, I got it half price) Raleigh U6 Alu-carbon road bike with full 105 10 speed compact groupo with FSA finishing kit
Most of my clothing is from
Decathlon, I tend not to spend over £35 on any one item (except my Specialized road shoes as they were the only ones I could find to fit).
You should buy a bike for your intended use. Entry level components are reliable and cheap to replace, Decathlon offer 2 years components warranty on even their cheapest bikes.