Logo is such a branding tool which takes business owners places where they can’t go themselves and speaks for them and their brands like a graphical ambassador of the business. Being as useful as it is I don’t think one should really worry too much about logo design cost.
Of course one should try to buy an affordable logo design keeping the budget in mind but another thing to do is to check for its cost effectiveness. If a cheap logo is not serving the purpose it’s meant to then what’s the point in saving money. What I would do is evaluate my budget and decide how far I can go rather than looking for cheaper and cheaper logos because in the end we all need quality.