I wrote about
$4 multimeter (also see
here), which is fine for crude measurements. For $20, we can have a meter with the following enhancements: 10Meg-Ohm input impedance, auto range, auto power off, higher resolution (9999 vs 1999 counts or 4 digits vs 3.5 digits), capacitance measurement, true RMS for AC voltage and current, frequency and duty measurement, continuity beep. Those are the features of ANENG AN8008, which has received favorable reviews online. There are even modifications (adding capacitors to the reference and supply) to improve its performance. The meter also comes with an extra set of probes with changeable tips.
The voltage measurements are generally very good. The current measurements are poor at high current range. The measurement drifts a lot. For example, at 7A current input, the initial measurement is 7.03A (well within spec), but very quickly it drifts 7.15A and keeps climbing. For current 1A or below, the measurements seem stable. (It appears that the poor layout of the current sensing shunt resistor contributes to the poor performance.) The $4 meter actual does better: measuring 7.05A and steady. The shunt resistance in the uA range is 100 Ohms. The resistance measurement excitation voltage appears to be 1V. The diode voltage measurement goes up to 3V; the open circuit voltage is 3.3V . It has a square wave output (+/-1.37V) at selected frequencies, which I don't know a good use for. The current draw in the voltage mode is about 1.5mA from two AAA batteries; that gives about 600 hrs operating time.
The specifications are fairly conservative and easily met except for the high current measurements.
Is it worth $20? Maybe. It is not for professional use. The poor high current measurement accuracy is a disappointment. There is no 10mA and 100mA current range. The input protection is pretty minimal: 10A/250V and 200mA/250V fuses for current protection, a bidirectional TVS diode and a 1.5K-Ohm PTC thermistor. The 600V CAT III and 1000V CAT II ratings should not be relied on.
The Fluke 107 has comparable features and specs (the only enhanced feature is 40M-Ohm range); the cost is $80. The extra cost buys guaranteed spec and verified 600V CAT III rating.