Ok i'll throw some other options up that i think are more suited to a 14yo thats probably on a limited budget.
Most models are flown with 4 chanels but i agree that 1 extra chanel is handy so for a real tight budget go for the hitec Laser 4 or if you can stretch it go for the Hitec Flash 5 if, the Flash 5 will do 90% of what you will ever need, have a look at servo city for prices www.servocity.com/ServoCity/index.html
from there the sky is the limit for $$$ and functions

for a good flying budget plane you cant go past SPAD, have a look at the SPAD forum on RCU and the web site for FREE plans or ARF www.spadtothebone.com

For engines there are many choices, i like the Thunder Tiger range for good value but there are many choices, heres a list of what i would buy depending on size, a 46ish size is probably a better choice than a 40 because most second, third, fourth planes etc are suited to the 46ish size, 2 stroke are cheaper than 4 stroke so i've only talked about the 2's

TT42 excelent value and a good engine
tt46 good engine
gms47good engine
os40la easy to tune but lacks power and is to expencive for what you get
os46la easy to tune but but there are better engines for similar $$
OS46fx excelent engine but is a bit $$ if you can aford the extra $$ this is the one to get

there are many other engines but these are the ones i have experiance with

hope that helps and HAVE FUN