If you don't mind only being able to base your server in Europe – which might even be a benefit privacy-wise – I highly recommend you to use Hetzner Cloud instead of DigitalOcean or other hosting providers. They are by far the the cheapest option, while still providing an easy to use interface.
A quick comparison with DigitalOcean
|Company Location (GDPR, you know)||EU||US|
This insane difference holds true on higher tiers as well – and additional services, like backups have basically the same pricing. Sadly, they only offer server locations in Europe, but if this is acceptable to you, then this is an amazing offer.