The cheapest route would be to get some waterproof ski pants and some padded wool/polyester socks. You can buy $20 ski socks, but $8 hiking socks will work ok in a pinch (as long as they are NOT cotton).
Honestly, I've always boarded with cotton athletic socks(ankle highs) and never have a problem. I usually board 8 hours once a week and have never been bothers except when pulling my boots off.
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