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What are some things you can/should cheap out on?
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Pixel 7a is currently $500 new, so good mid tier device. https://store.google.com/us/product/pixel_7a
But really what you should do is get a used mid or top tier phone that's one or two generations behind. Depreciation on phones is so great that you get a lot of bang for your buck.
For example mint condition Pixel 7 is $300
https://swappa.com/listings/google-pixel-7?carrier=&color=&storage=&modeln=&condition=mint&sort=