50 dollars is EXTREMELY low. With that you're looking at one of those combo deals from WalMart.
I'd spend a little more and get a Shimano or Pflueger spinning reel and the ugly stick is a good bargain for a rod.
I'd look at a 6'6" rod with a MH power and a Medium or Fast tip (I'd suggest fast).
Craigslist is a good place to look for fishing stuff.
Just stay away from baitcasting reels, since I'm assuming you're a beginner and those are a lot tougher.
Or would this one be better?
http://www.basspro.com/Browning-Fis...t/10209671/-1742656?cmCat=CROSSSELL_THUMBNAIL
...and, I can't believe that I actually replied to a Waloshin post