A chair should most definitely be looked at as an investment! Your body will thank you later!
http://www.amazon.com/Boss-Black-LeatherPlus-Executive-Chair/dp/B00166DR9S/
I know it's just above your preferred price but we've heard decent things about these for a budget chair however.
Founded by gamers, Fragged Apparel is here to bring the gaming community top notch gaming clothing at affordable prices! Combining simplicity and style, we strive to bring you something you can be proud to wear. Be sure to continuously check back as we're always releasing new products!
Fragged...
Yes, Xbox Live has you pay to make a new one after your first initial change! It's a bummer in one aspect but as mentioned it keeps people from constantly changing names.