And I strongly suggest that you do NOT buy any Cen-Tech meters. The last five I bought there were filled with solder balls and bits of wire. Sad, because they used to have some decent cheap DMMs.
In summary, for Arduino-level work, the meter you get at the gas station for $1.99 may be OK. But if your're troubleshooting a 480 V motor control in a factory, get a Fluke. It's the difference between life and death.
PS: Get one with a fuse that's easy to change otherwise you'll spend a lot of time wondering why the ampere readings are weird. Oh, wait, there's no such thing at any price.
Not sure how much you'd actually use the current measurement with Arduino projects, but it's there.