I don't think you should go for a 200-300$ hosting.
Instead, buy some cheap but decent 5$ monthly hosting and invest in something else. Priorities man, priorities.
In my country, I can get 1 yr unlimited websites /w unlimited storage shared hosting for $70 which also includes one free domain.
I don't believe you need any more than $100 to get started with blogging.
Starting a website and growing would be a good choice. You don't need to blow up entire budget and can easily get started for less than $100 and then gradually invest in growing.
Not really i have basic knowledge in almost every domain. But i think Adsense Arbitrage is a good thing to do.Do you have any particular skills? Graphic Design? Programming? Writing? Web Developing?