I hate to share this, but there are many cheap hostings on DigitalPoint. There is shared hosting as cheap as $1 per year (I actually bought one myself, and considering whether to buy another one just for play or gift to friend...) and reseller hosting as cheap as $20 per year.
Check out these threads:
ForciumHosting - Web Hosting for $1 A Year // Reseller Hosting for $3 A Month!
Addictive Hosting - 100GB Storage & 1,000GB Bandwidth- $20.00/yearly
Addictive Hosting - Reseller Hosting - $15.00/yearly
Both the packages I mentioned are limited. I have no affiliations with them whatsoever and unsure about the stability, but the $1 dollar hosting is a steal, well if you aren't buying the limited quantity, I might have more time to think if I needed another account, hehe
Do check them out though, what can you buy with $1 nowadays?