Whether you are cooking with wine, using it in cocktails, or mulling it, the biggest piece of advice you must always remember is sh*t in, sh*t out. No matter the price of the wine, it’s important that it’s good, and lucky for you, there are a lot of good cheap wine options out there.
Is it the type of wine you’d put up against fine Burgundy or first-growth Bordeaux? No, but it’s well-made wine that is balanced and tasty for the price. If you wouldn’t drink the wine on its own, then you shouldn’t use it for any of the above methods. But absolutely feel free to use a “cheap” wine if you enjoy the way it tastes.