Cheap mixers are useful for a while... but they tend to 'konk out' easily. Faders stop working, knobs crackly etc. Behringer/Wharfedale... I'd suggest you stay away from them, unless you plan to upgrade quick. For a few useful cheap ones - you can even consider checking out Luthermusic - they have the Tascam M-164UF - 16 channel mixer + USB connectivity for recording. At about $350. maybe its within ur budget
I tend to avoid budget mixers after playing live with a band using one. It is a sad story - different unfortunate and unpredictable things were happening, such as getting lost in the mix etc. (All despite that initially levels were set, sound was checked, and all was supposed to be just fine.) On the contrary, when we played in a venue with expensive gear, it was as easy as plug-n-play. There you don't need to check anything twice nor get nervous that during the set something bad would happen, because a mixer won't be able to handle an audio signal you feed into it.
For this reason, for home a cheap mixer might be ok, but for the stage it's better to look for something more reliable, even though it's more pricey. In all seriousness, even owners of clubs often spend more money on interior than on speaker system, mixing console etc., and then it becomes inconvenient not only for musicians, but also a staff audio technician and plain listeners.