First, I love monkstraps. I think they give one a slight modern edge that go great with a tailored suit. Back in the fall, I bought a pair by Magnanni that were extremely similar to the “Hugos.” The style I have is a bit more “polished” when it comes to design, but the differences are minimal at best.
Finding affordable monkstraps is difficult. The cheapest option I could find were these by Stacy Adams, but I know nothing about the brand. Personally speaking, I would advise not to skimp on shoe quality because there’s nothing worse than having the throw away a pair of soles after a season or two. I think it would be wise to go onto Nordstrom Rack to see if you can find something that suits your taste. I did a quick search for you (can get access here) that has half a dozen black monkstraps that are well made and deeply discounted. Hope this helps!