I've designed and run my website for a long time now, there are lots of ways that you can do it and make it cost efficient.
You could go with the "Blog" website, where you sign up for a free blog account and use that as your site. All free, all the time....you can use their templates so you don't have to worry about hosting or design fees. Other people might have more info about different blog sites etc.
If you want a professional looking site, you can still do it for a good price. You would have to pay for a domain name (doesn't cost much!) and then there are companies that offer free hosting up to a certain disk quota and traffic quota. (I use Doteasy.com and used their free services for quite awhile until I needed to upgrade because of traffic)
If you like challenges, you can have a do-it-yourself website. I taught myself basic html programming (from a book) and got "1st page" a free html design program. There are free ftp programs you can find for uploading the files to your site (I use aceftp) and you can find TONS (I mean TONS) of free website templates, that you just have to change to be your content with a bit of html.
You can check out my site, right now I actually have two sites in one, so each one has a different template that I got for free.
http://www.sandrawickham.com
Good luck!!!!!!