Well there are cheaper hosts BUT you always need to check reputation, support and uptime.
Your current host has had lots of negative feedback recently.
I have some sites with them and one site was taken down with NO warning and without even letting me know. They just PULLED it for excessive server usage and all it was, was ONE image that was hogging bandwidth. They could have just asked me to take the one image down.
Don't underestimate the importance of a good host. Once you are making good money the last thing you want is for your site to go down or to have to switch hosts.
Always check webhostingtalk.com forum and research a host in-depth before joining.
Here is one I've been reading good feedback on that offers a huge amount of space PLUS a free domain. I'm looking for a new host for the sites that are at Midphase. I'd get the high end package, but if you get the low end which is still huge, it's only 6.95 a month and they'll move your site for you. PLUS you can get a new domain for free for a new niche site and host multiple sites on the one domain.
HostICan - Web Hosting - FREE Domain, PHP, 2,500GB of bandwidth, and more...
But again, don't take my word or anyone's word on who a good host is. Every host has complaints. Many had good reputations in the beginning then went down hill, some BIG names you'd be wise to stay away from. So you need to research and see what lots of people say and then form a general consensus from there.
The host you get depends somewhat on your site but that one would be plenty for most sites. It will be fine for my other smaller sites. Whereas a big, busy site like 5 Star with a blog and forum needs a dedicated server.