Here in this thread there are people who say that it is necessary to have 32gb+ of memory to be adequate. Naturally, the rest of us know that how much memory is adequate is dependent on how you use the computer.
Note what they are telling people: Every SINGLE M1 Mac Mini and M1 iMac and M1 MacBook Pro and M1 MacBook Air is inadequate because all of them max out at 16gb.
At the end of the day it is your decision. It looks like your budget does not stretch to 32GB so you have no option. If your budget could stretch to 32GB why would not future proof yourself.
To be fair, RAM options are tied in with the particular M1-family SoC you choose. Going from 16 GB to 32 GB requires purchasing a M1 Pro or M1 Max – even if, aside from RAM, you would be satisfied with the lesser capabilities of a M1-based machine.
The least expensive 16 GB M1 MacBook Air is $1200. The least expensive 32 GB 14" M1 Pro MacBook Pro is $2400. That's a big jump in price, even if it is not just RAM that you are getting, but a host of CPU, GPU, display, speaker, and port upgrades.