Basic shirts at H&M range from 5.90 to 12.90 USD and I've bought a ton, probably enough to last me a month without repeating.
I'm writing today about their Divided Blue (junior menswear) v-neck shirts and how they're a total must for everyone (girls included!). Sure, American Apparel tees are cut well, and Urban Outfitters' shirts feel great; but they come with hefty price tags and I've spent too much on what I consider pricey for basics. I'd rather put my money in key pieces and save on tees that I wear day to day.
The v-necks are only $5.90 and they come in new colors each season. Sometimes the necklines change a bit (thick ribbed vs. thin, deep vs. short) and details like that are appreciated when you've amassed a great number!
Now, with the low cost comes a drawback. I found I have to hang dry my shirts otherwise the dryer will shrink them. It's a step I don't mind taking, but this is of course a choice for you to make.
Other than that, the cut is great and the fabric is lasting. My darker colors have yet to fade and at such a great price I continue buying more—I'm addicted! Well, truth is I get lazy when it's close to laundry day and they are definitely not a luxury good.
It's really hard for me to find shirts that fit. I have a small upper body for my height (5"5'). With narrow shoulders and a long torso, petite shirts are usually too short and regular shirts tend to be big. Before H&M came around, I used to pay $80 for a Banana Republic shirt, but then it usually is a little too tight around the chest. H&M amazingly fits really well - and the price is great for decent quality material.
I bought a few H&M short-sleeved button down shirts a few years ago, and they ended up being pretty nice shirts for the price. The fabric is pretty thin, but the construction of the shirt seems solid, and H&M usually keeps up with what's currently in style.