Getting the new Verizon Iphone, what kind of plan should I get?

[?Imperfection is Beauty?]

I would rather not pay over 100 dollars, I want to know what is the "hotspot" or whatever, its like 50 dollars with the verizon Iphone, can i just get a 30 dollar data plan?? I want unlimited texting and hardly any talk mins and unlimited data (if possible) so what are my options?
Also is the 30 dollar unlimited data package REALLY unlimited?