Well, you kinda gotta go with what you have available.

I am not a huge fan of multitools or "survival" knives.
It depends a lot on what else I have with me though.

If I have mechanical stuff with me or expect to run into mechanical stuff then tools are almost essential.
I have an older Leatherman and have found it very useful on some occasions.
Even though it sucks as a knife the pliers, screw drivers and file are good.
The can opener has opened many cans of baked beans.

If cost is the problem then I would just pick out a decent small hunting or folding knife.
Mora is an extremely good and inexpensive sheath knife for the woods. I like their craftsman (#760, #740) series a lot.
There are other brands as good but Mora is pretty much the standard to match.

Buck, Schrade, Gerber and others still make a few decent pocket knives that are not astronomically priced.
You don't really need big heavy blades, a blade between 2 and 3 inches is enough for most jobs you need a knife for.
Often you don't even need a blade that long.

One of my favorites is the smaller sized Opinel folder.
Another one is the electrician model of the Swiss army knife, but they are a bit expensive now.