I just bought a new purse and I love it even though I have not used it yet. I am all about saving money where I can and I know that sometimes low priced means you get low quality as well.
However there are some times you can get good or even great quality for a low price. I bought a purse that cost less than $20 because I had a very good experience with the brand in the past.
I actually got it in tan but I cannot find a good image of the tan one so this will have to do. At less than $20 this bag is surprisingly sturdy. It is quite roomy, without being too large and I think the silver hardware lends an air of elegance that you just do not get with gold hardware.
It has three compartments and the two outer ones have a magnetic button, while the middle uses a zipper. My only complaint is that the middle compartment only has one zippered pocket on the inside, while my favorite purse has a zippered pocket, two medium open pockets and one small open pocket on the inside. Having that many inner pockets makes it easy to keep your purse organized because you can have a designated area for each thing.
I will use this purse as a going out/church purse and probably not for school because of the small number of pockets. I like having a separate pocket for pens, pencils, flash drives, and other school related items and this just will not work. In fact I may have to use individual pouches to get everything organized when using this purse. That may actually be a better choice as it makes switching purses easier.