I have found that you get what you pay for with pH meters. Monitoring soil pH is essential to ensure optimal plant growth. Both pH meters and litmus paper tests have their advantages and disadvantages.
pH Meters Pros of pH meters include their ability to provide precise and immediate readings. They can be used multiple times and are especially helpful if you plan to test pH regularly. However, good quality pH meters can be more expensive upfront. They also require periodic calibration to ensure accuracy, and the probe can be sensitive, potentially breaking if not handled with care.
Litmus Paper Test Pros of litmus paper are its relative inexpensiveness and straightforward usage. It's suitable if you don't plan to test pH often. However, it might not be as accurate as a calibrated pH meter, especially for in-between readings, and they are single-use, meaning you'll need to repurchase when you run out.
Given your situation, if you plan to monitor pH regularly after lime applications, a pH meter might be a better investment in the long run. Look for a soil-specific pH meter with positive reviews for durability and accuracy. You can get a decent digital one for $30-40 that will show bigger swings in soil acidity.