A meter is like most other tools, what you need depends on what you do and what you know how to do. If you have a good understanding of basic electricity, most any meter will do, as you will know when it not hooked up right or working well.
I have a bunch of meters, big, small, old, and new, and latest is a Craftsman 82369 bought used off ebay for less than $30. Its a nice sized meter with both AC and DC clamp measurements, and so far seems like it will be a handy and well used tool.
I've also recently purchased a new HF "automotive" meter, but haven't had a chance to play with it much, but it includes an inductive pickup for rpm and can measure things like duty cycle on injectors.