I recently began euro-style nymphing and I am passionate about fly tying. Just finding moderately priced, bulk sets of jig hooks and tungsten beads still works out to a minimum of almost $0.5 per fly so, in my opinion, heavy/euro nymphs in the $1-2 dollar range are a deal. The upside is you lose a lot less flies. Moreover, the style excels in faster water where perfectly tied flies are far from a necessity. Check out some simple patterns like the Sexy Waltz Worm, Zebra Midge, Brassie, Frenchie, etc. that you can easily bang out a days-worth of in an hour or two.
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