Disaster!! My Iron is Broken

Of course in the middle of a big project my iron breaks. This poor Panasonic my family bought 3+ years ago just gave up. My dad thinks I've fried it. I have no idea what's wrong with it other than it won't start when I plug it in. It actually died on me while I was trying to iron on some interfacing. But I've used it relentlessly and it's lived a good life fulfilling it's life as an iron. It wasn't the best iron but it was a working iron.

So now the big questions is what should a replace it with. I've been eying my friends $120 Rowenta that has it's own water tank and continuous stream of steam. Or there's this Reliable iron I've used and come to like that is $125. But that's a lot of money I don't have. We'll see what happens. I'll probably buy another cheap $50 one, if you can call $50 cheap. But in comparison to the $100+ irons I really want $50 is inexpensive.