It all depends on what you want to do, Ricky.
The monitor hood just controls ambient light from above and to the sides.
Wearing a bright white shirt can still throw things off if you really want to be precise. Color management is tricky especially if you want to do high quality print work.
For the web you can get by for less.
I don't know what monitor you're looking for, but Will Crockett's recommending the Eizo CG222W and the LaCie 324, which is out of stock until September.
You can get the LaCie without a hood, but the Eizo, I think, only comes with one.
Eizo's on sale this month at ColorMall.
P.S. I'm sure you could make your own monitor hood (with something like black foam core) if you were so inclined.
I have an older LaCie Electron Blue that came with a hood. If my next monitor does not come with a hood, I will make one for it. I see a hood as a valuable accessory to a good monitor. I’m pretty sure my hood is just cardboard covered in vinyl. Making one out of black foam board would work well. Attach to monitor with velcro.
Hoods cut glare from overhead lights, and window light to the sides. I do my processing in a dark room with a light calibrated to 5500K (if I remember right) that is above my monitor, so I get no glare from anywhere. In normal use, such as now in the forum, it cuts the glare from the light and the window.