First off, bows aren't necesarily cheap. A really good bow can run you up to 250$, but you can get cheap 15 lb at bi-mart for like 20. So somewhere in between there is the cost for your bow. If you're going to make your own arrows, I highly reccomend ordering 12 arrow kits from
http://www.edhellen.com/materials.html , and making them from there. They give good instructions, and you won't have to cut out so many * rings yourself. Those are 2$ each, so 24$ for the 12 (plus shipping). (for every 12 you order, you get a nice hefty roll of super cool hockeytape, too.) Shafts are tricky. If you have an archery shop in town, go there and ask them for help. You want nice, light shafts, that don't shatter. Shattering is bad. If they're any good, they'll direct you to the right shafts. All in all, it's not cheap, if you want it done well. I reccommend just a mid-line bow, but don't get too high of a poundage.. I think 25 is our limit here, and 15 for crossbows. Hope this helps.
Edit:
Stupid bish for posting WHILE I was typing this up.... *slap*
Oh no. That's due today.