DO A GOOD DEED! Help a confused newbie!?

[Teza S]

Here's the deal: I bought a domain name and paid for hosting.

Now I want to change the domain name, which I can't do.

So I thought about buying another domain name (the name I really want) and having it redirect to my site.

Questions:

1) Is this possible?

2) Do I have to pay for EVEN MORE hosting? That ish is expensive!!!

Thanks