My dockmate had (past tense) a main with no reef points. Although it lasted for a while, he flogged the hell out of it in heavy air, and finally one day, it literally exploded.
If anyone here understands a limited budget, I do. Spend the money, get a single, deep reef point sewn in or you'll just be buying another sail soon. Worse, you may find yourself in weather where you can't keep the boat on it's feet because you don't have it.
Think of it as "passive" safety gear.
S/V Old Shoes
1973 Pearson 30 #255