I ran into the same predicament as you. I don't have the luxury of carrying many firearms around because I move a lot. If you have the funds or time, I suggest you buy or find both so you can try them first hand. See of the rifle feels right for you and shoots how you'd like it(sell the one you don't like). If you don't, well, here was my research:
The SKS is the lighter rifle (but not that light. it's about 9lbs) and fires a lighter cartridge. Keep that in mind. It's a less kicking round that does less hurt and shoots much shorter than the .308 but can be found all over the world (varying abundance). It's real saving grace is the price of ammo, but the longevity of surplus ammo is questionable in the current state of global affairs (and some healthy rumours). Surplus ammo is stored military ammo that are usually FMJ and banned at certain gun ranges and provinces for hunting. Being FMJ, they don't expand much or provide the hydrostatic shock of most hunting rounds. Of course, this doesn't mean that the 7.62x39mm is a terrible hunter. It is very capable within the right parameters of the rifle and munition. Hunting 7.62x39mm rounds do exist but cost about the same as .308 hunting rounds. So when hunting, price points become moot. The accuracy is good for field targets but no way in hell a tack driver.The latter is entirely how well you shoot and the cost of surplus will help (more trigger time means more proficiency but requires ammo). There is great support and aftermarket parts for the SKS and the M14. This is good because the stock for the SKS seems to be designed for someone wearing a thick parka being a tad short. Regardless of the round it fires, it is a VERY well made and designed rifle for the price. It'll be viscously hard to find a semi auto centre fire made entirely of wood and metal with sights and a cleaning kit for around $220. It is truly the poor man's rifle but DAMN, that's a lot of rifle.
The M14 might be what you want, though. If you shoot less, the M14 would be more ideal because the cost of ammunition. The reloading excuse is only good if you already have reloading equipment because starting one up will easily destroy any value saved. Even over time because anyone who reloads know, that you end up spending way more than you wanted. Of course, if you have other .308 rifles or plan to reload other rifles, this may not be such a bad idea. The .308 is a very versatile round (especially if you reload) and in the Americas and Europe, very common. Much more so than 7.62x39mm. It's accuracy is much better than the 7.62x39mm and shoots flatter, harder, and straighter. Not only is it a great hunter, it's continuing usefulness as a military round will insure it's longevity making the M14 a great investment. The support and aftermarket accessories in Canada is phenomenal especially if you go on CGN. Which you do. At around $550, you won't find a better .308 semiauto new.
What did I choose? The SKS. It's smaller size, lighter ammo, and cheap ammo was everything I needed. Sure it doesn't have mag change (not counting aftermarket) but it really lightens my load not having magazines. I digress though, if ammo was cheaper and I had the money, I'd get the M14 hands down. Get the barrel shortened and a aftermarket stock so I can have the smallest package possible. But this is a want, not a need and I need to eat, too. In conclusion, the answer is a resounding, what do you need? Sorry for long thread.
We are swimming in them. If you can find me modded sks's for 100 bucks, ill take 20 
So i just ordered a couple of them....just to be safe
