If you are anything but a really light user or need the money to pay the rent, I would recommend the M1 Macbook Air. The intel is slow and hot.
I assume the sale price is for the 2 core base version. The single core performance is already subpar, but the really troublesome part is the 2 cores. Almost all devices are heading towards 4 to 8 cores and software is beginning to finally use more than 2 cores including web browsing. I do notice the decreased performance to my older 13 in macbook pro which is only slightly slower than the current intel version. Websites have more delays, waking from sleep takes the computer longer, switching apps is also slower.
Whenever I do go back to my older computer, I find myself getting frustrated with the slowness. It is only going to get worse, as programs become optimized for even more cores.
I wouldn't scoff at the battery life either. I do appreciate having to charge less often.
The math also doesn't make sense. With Apple, you usually don't come out ahead money wise, specially with upgrades, but right now the Macbook Air is an exception. For 33% more money, you get about 70% more single core performance, about 250% more multi-core and gpu performance, and 36% more battery.
Yes, you could get by with the older intel macbook air, but I don't see why you would want to.
If price is really an issue, then Apple is not the place for saving money. You could easily go for a windows laptop for half the price and still get the job done if that is all your after. Another unorthodox option for saving money is to get the basic Ipad and a keyboard for it. If all you are doing is writing and surfing, then the ipad should be able to get the job done.
For a good experience, I find the price of the macbook air very reasonable right now for what you are getting (disregarding the paltry 8 GB of RAM and 256 GB SSD). If you can get the M1 a bit cheaper through a work discount or a sale like mentioned earlier, then it makes even more sense.