I'd say grap a decent Mora knife as a fixed blade - can be had around $10 for the cheaper model, and up to $40 for the pricier models, depending where you shop and such (Ragweed forge is popular, but also Sportsmans Guide have them). With the left over, get a decent folder. SAK, Benchmade, Spyderco and Kershaw all make decent folders in the $50ish range.

If you can find an online store that sells both, you might save the seperate shipping.