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You can buy a bottle of wine for $2, but honestly, the bottle itself is probably worth more than what's in it. Some wines in the $8-12 range can be very good and some are terrible. However, some wines in the $30-50 range have the same problem, so more expensive doesn't always mean better tasting.
The easiest way to pick an affordable wine is to just shop for price, say under $10, and decide between red or white. I don't think there is a definate advantage to cheap red wine over cheap white or vise versa when it comes to taste, it all depends on what you get.
I think one of the best 'cheap wines' out there now is Coppola's Rosso. It is a red wine blend and at around $10 is better than many wines I've tried at three times the price. For a white, I'd recommend Fetzer's Guwerztraminer. It is a very smooth, sweet, easy drinking white wine that most enjoy with desserts, but I think is savory enough to drink with fish or poultry dishes, it too goes for arond $10.
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How to choose a great cheap red wine
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