Both are affordable, but which is a better bet? It depends on your lifestyle and technical needs. Each tablet has its own selling points and price isn't the only deciding factor.
The Nook Tablet is priced at $249, but comes with more RAM and 16GB of storage - double the amount of Kindle Fire. There's also an additional 32GB of storage via a microSD card and the battery life is longer.
The Kindle Fire is priced at $199, which is a selling point in itself. Amazon also offers Kindle users a lending library that boasts 5,000 titles.
The Nook Tablet has Netflix and Hulu Plus pre-installed, which is appealing if you already subscribe to those services. Kindle Fire is built to work with an Amazon Prime membership. Convenience is key here. If you already subscribe to any of these services, that might be a deciding factor.
Both the Nook Tablet and Kindle Fire offer free cloud storage for their respective brand purchases.
Kindle Fire will not support EPUB files, nor will the Nook Tablet support AMZ files. Neither tablets supports Sony or Microsoft's eReader file formats.
The decision might come down to what you already own.