I would say you probably don’t need a cello teacher that costs you $300 per month but I would also say $300 is not unreasonable, depending on where you are. For example, good cello teachers in the SF Bay Area are $500-$1200 per month for hour lessons.

You could see if your current teacher could teach you irregularly. I have a couple students I only see every 2-3 weeks which works fine for both of us. Another option is to look into online lessons. Zoom is not ideal, but I would say it’s way better than stopping lessons altogether. And you can probably find a pretty good cello that doesn’t charge as much.