I don't have any solution on the cheap end.
I will mention, wrist heart rate monitoring is notoriously inaccurate compared to chest strap heart rate monitoring.
My setup:
Zephyr HxM chest strap heart rate monitor (~$50) which connects to my Galaxy S4 via b/t.
2014 Moto 360 ($118) which connects to Galaxy S4 via B/T.
SportsTracker Pro app (~$5) which collects and integrates the location/speed from my phone as well as the heart rate data. I have real time display on my wrist.,.. can swipe between heart rate, speed, total time, summary screen etc.
Trend of speed and heart rate can be viewed for each workout (present or past) on the phone. Also can upload to see it online via pc browser (sportstracklive.com)
It's obviously a more expensive solution than what you're looking for.
But it's a great solution for me. I like the smartwatch for other reasons.
In spite of the cost, it's not perfect. The software gets confused (having two heart rate sensors... one on chest and onoe built into the watch) and occasionally displays an obviously-wrong heart rate on my watch (the stored data is fine though). I have to swipe a few times on my watch to re-load the display to fix it.