You can use a spect for much less and use your own reagents, or buy pre made ones and dial in the times/the nm etc.
It's convenient and all, but you pay dearly for it.
The hanna C200 is nice, so is the Hach 890 etc.
In general, you can use the pre mixed or made reagents between spects and colorimeters, they use the same methods and nm,'s after all.
You can use a cheaper spect, I've gotten them for about 150-400$.