At the moment, I don't have a whole lot to spend on lighting. I work construction and my season is soon coming to an end. It's about time for me to replace both lights on my pc and the cheapest I found them for is 40 bucks a piece. I figured for 80 bucks plus tax, I may just look to go in another direction. The guys at Tropiquatics in Lombard recommended a 3 foot led strip with power supply. That would run me 160 total. I could probably swing that but not much more.
first off, i was a big fan of tropi-quatics, but please do not buy those POS 1w chinese (inquire about those strips, they don't tell you any specific info like a manufacturer, ect..) LED strips they sell. they are cheaply made (no actual heatsink) and if you look at the tanks they are on they just aren't too bright. especially compared to their tanks (the ones to the left of the live rock tanks) that have a 250 MH and a 36 3w LED DIY kit.
aside from your price range, the next most important question is what do you want in your tank? fish only, that cheap lightstrip will work. soft corals you'll probably be okay LPS corals, doubtful but possibly with high placement. SPS corals, you will have a nice selection of skeletons soon.
similar with T5 bulbs, but you will run into the problem you have now with annual bulb replacements and costs. 2 T5s will be fine for fish and soft corals. 4 would be good enough for softies and some LPS, while 6-8 would get you pretty much anything you wanted to grow as well as a very balanced color spectrum.
you might be able to ebay a cheap(ish) 4 bulb T5, but the more bulbs you are running the more yearly costs you bring yourself.
imo short term thinking, a 4 bulb T5 setup will get you growing a nice LPS and softy dominated reef, but it will cost you more in bulbs and electricity n the long run.
now long term thinking, spend a little bit more now with quality 3w LEDs and you will be able to grow SPS while saving $80+ a year in bulbs and who knows how much $ in electricity. imo the 2 things that should not be skimped on are protein skimmers and lighting because you will end up spending more in the long run replacing the cheap stuff.