The meter I recommened is in the FAQ, but what I look for is:
Auto Ranging (it automatically sets the range on the meter). This is GREAT for beginners.
Most will have the usual, resistance, AC,DC,continuity.
Then the advanced cool stuff for us:
Transistor hFE check
Transistor auto pinout identification
Capacitance (for checking capacitors).
For all of this, you should expect to pay up to $100.
For one without the advanced stuff (but with auto ranging), probably around $30.