I have a HiPoint 995 -- the 9 mm version -- and love it, partly for the cheap ammo, and partly for sharing the ammo with my Taurus PT24/7 in 9mm. But in your situation, I think technosavant's advice makes some sense. I wouldn't choose the 995 as my main WTSHTF weapon. SKS is better for that. Or look into a Saiga (a little more expensive, but gives you some other options on calibers -- .223 or .308).
Or, if you are thinking longer term, like I did, and plan to acquire something other than just the HiPoint, but want to start out with a low budget, then get the HiPoint. Just realize that while it will be better than nothing when TSHTF, it will be better yet to have something else. Then, the HiPoint can be turned over to a spouse, child, or buddy who doesn't have a weapon, while you carry your "main" WTSHF weapon. In my case, I bought a 995 first, for the reasons listed above. Then I saved up some money and got a Saiga in .223 (ultimately spent more for the Tromix conversion). So now I've got two.
I understand the need to think what to get when the budget is limited. I don't know where people get the $$$ to buy all these +$1000 sidearms and rifles. Since I started arming myself about a year ago, I've spent a little less than $2000, and have two sidearms, and three longguns to show for it, all good purchases -- and all NIB -- for the money. My normal "price point" for a firearm is that it needs to be less than $400. My Saiga broke that rule, sort of, but I laid out ~$300 for the Saiga itself, and ~$300+ for the conversion.
So, if you want to go with the HiPoint now, and pick up a SKS in a few months, that wouldn't be a bad plan from my POV.