$50 GUIDE : Magical Paean to Life, Loss

Lou Reed’s “Magic and Loss” tops the field in this blueprint for keeping up with what’s exciting in pop music on a budget of $50 a month.

January

Lou Reed, “Magic and Loss” (Sire/Warner Bros.). The early leader in 1992’s best-album sweepstakes is a reflection on the deaths of two friends that mourns their loss and celebrates their lives.

Primal Scream, “Screamadelica” (Sire/Warner Bros.). In this late-1991 album, the British band mixes ‘60s psychedelia and soul-rock with contemporary dance rhythms --and it works nicely.

Teenage Fanclub, “Bandwagonesque” (DGC). Jesus and Mary Chain comes to mind when you hear the searing guitar work on the opening “The Concept” as fast as the Stones do on Primal Scream’s “Movin’ on Up.” But it’s just one in an endless series of reference points--from the Beatles to Big Star--in this late-1991 “power pop” gem.

February

Big Star, “Third/Sister Lovers” (Rykodisc). In this reissue from the mid-’70s, cult hero Alex Chilton combines tuneful, Beatles-like strains with the dark introspection of the Velvet Underground. Replacements fans, take note.

Sammy Kershaw, “Don’t Go Near the Water” (Mercury). Kershaw sings in this country debut with the authority of George Jones and selects songs with an equally convincing honky-tonk instinct.

Ministry, “Jesus Built My Hotrod” (Sire/Warner Bros.). The Shamen, “Make It Mine” (Epic) (CD singles.) “Hot-rod” is as ingeniously zany as anything ever played by Dr. Demento--and it rocks . The Shamen’s single offers the zest and allure of some of Pete Shelley’s best old dance-floor workouts.

March

My Bloody Valentine, “Loveless” (Sire/Warner Bros.). Catching up on another late-1991 album, the Guide recommends this London-based band that specializes in guitar frequencies even more relentless than Jesus and Mary Chain but with a female voice to cushion the assault.

Boogie Down Productions, “Sex and Violence” (Jive). Besides provocative rap, KRS-One offers a classic skit about financial injustice in the pop world. Jokes a white record executive: “You know, it’s a real funny thing. . . . Just yesterday, we were taking the rock ‘n’ roll from the blacks. Now today . . . when they use samples of rock ‘n’ roll, we’re suing their asses. . . . Ha ha.”

“Until the End of the World” (Warner Bros.). This soundtrack is a must, from the Leonard Cohen-like intensity of Crime & the City Solution’s “The Adversary” and Nick Cave’s “(I’ll Love You) Till the End of the World” to the wary wistfulness of Jane Siberry’s “Calling All Angels” and the passionate rush of U2’s title track.