I would focus the majority of my funds on the baitcasting combo. Like was said above a berkley shock rod or even cherry wood paired with a pflueger prez/abu garcia cardinal/shimano or daiwa in the $40-50 dollar range would be a good start for finesse. That would probably set you back around $70-80 bucks.
I would also recommend doing a search on the forum here for 100 dollar rods. There have been many and I mean many discussions on the topic. Personally I would look at the shimano compre, powell desiel and st.croix mojo. The 7''m/f mojo that farmer mention above is a real nice rod and is very versitale. As for reels I would look to ebay and see if I can find a nib revo s gen 2 or a used citica d/e series. I only say focus the funds on the baitcasting combo because basically anybody can cast a spinning reel; it is going to take practice and patience to cast a baitcaster (I'm assuming you don't have alot I'd experience in that arena) and a better quality rod and reel with make the learning curve easier.