$50 I believe is ultimatly too low.

You need a
Radio
2x servos (minimum)
Reciver
Speed control
Motor
Batteries for motor
misc equipment like glue, control horns, etc.

http://www.southeastrc.com/Items/Std...5&adp=froggle1

Here is one of the cheaper systems I could find from GWS Its about $120 and includes the Speed controller,2x servos, reciver and radio. JR has a system that is $100 with out the speed controller from horizonhobby.com ..wich is about the same price because and esc will cost you 15-20 for a cheap gws one. NiMh batteries are going to cost you like $15 minimum. Do you have a battery charger? Thats another $20-25 MINIMUM.

Unless someone else knows of a cheaper system your looking at $150-200 minimum to radio equipment.
I've seen Slow stick packages around for $180-200 that include the plane

If you don't get any more answers the post in the radios etc section, I've found it very helpfull.