What you stated sounds ok, depending on how much bandwidth and space you need for your site, and how you will be making it. If you don't have good web knowledge you might want to try something like WebSite Tonight ( http://www.domainsatretail.com/websitetonight.html ). It lets you edit your entire web page online, so its easy and that includes hosting. Plus if you get that, you can buy a domain name for $1.99 for the first year.
It would cost you less than $10 to start up for the first month, which gets you the hosting, domain name, email and an online editor so you don't have to learn HTML coding.
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