I live my life by this principle. Buy a quality flashlight once, or a cheap one 10x over in the same amount of time. After many years of spending my money on cheap junk, you really come to appreciate solid products. One thing, that still remains true is "you get what you pay for" and that still ring true for 95% of the products on the market nowadays. But there are some real budget bargains to be had, or else you wouldn't be here! That being said, it's always worth it to pay a little and get something thats going to last, and not break a year from now.
One thing to really think about is where the flashlight switch is located. I use to think I would loved the rear tactical clicky lights (like I would imagine having it mounted on my m16 if I was a soldier in Iraq, but in reality I'm just a regular guy in the US of A), but honestly, I have come to find that side switch flashlights are the most comfortable to hold, turn on, and switch modes with.
You can try to stick under $50 for both flashlights, But I say live a little, splurge on something that exuberate's quality and top notch performance. Maybe the best of both worlds its to buy a brand name, quality product, and also buy a budget quality product, then go from there.
That being said there are really good deals to be had. The SupFire M6 is on my list of lights I want for myself, and its $45 shipped. The Convoy L4 is a hot budget quality flashlight right now for under $25 shipped, as well as the Sunwayman D40A thats $50 shipped, which I qould classify as Quality and budget friendly, as it's normally $60-$70 for the past year. It's really hard to not like any one of these because they all have side switches which will feel really good in the hand.
There are other's out there, but If I had to buy 2 lights for myself, I would get me the SupFire M6 and Convoy L4, and for my father, I would definitely get him a Sunwayman D40A. It's just an all around good light, that everyone seems to love. I feel like I got caught up and wrote too much, but I hope this helps.