IMHO I would stay away from cheap bait casting reels, they do not cast well. I would purchase a good used Shimano or Abu online if you want to try it out. If you decide you do not like it you can just resell it and not loose any or little money. As far as spinning reels it is hard again to beat Shimano. I like the Shimano Sahara or the Sedona are good choices in the 60-80 dollar range. You can get a Sahara online from Cabela's for 44.99 regularly 80 bucks. Something else I would recommend is getting a quality rod, they are just as important if not more important than the reel in certain situations. You really need to match the rod and reel to the style of fishing you are doing. An example would be spinning reels work well for drop shot fishing with a ML X-fast rod. It took me a while to realize how well a good rod will up your hookups. I like St. Croix rods, they have a price range of 70-300 dollars and are well made rods some that come with an unbelievable warranty. To sum it up, figure out what you want to use the rod and reel for (species and technique) and go from there. I know it is a lot to take in but hope it helps.

For a rod, I use an ugly stick spinning rod. I love it, its super durable but still sensitive.

for a rod you should try st croix mojo bass or abu garcia veritas. for a reel i would go with an abu garcia revo or orra sx these reels are spinning reels but are a little more expensive than what you are looking for.

You could try a berkley lighnting rod 6'6 or 7' med hvy. $49. It is just over $80 but it is worth it, get a bass pro "proqaulifier". They are $99 but they are great and will last a long time, they have an aluminum frame, two braking systems. they reel in smooth. well worth it.