when spltting the costs up... recommend gettig the RADIO first.
You can build some "entertaining" things that fly using anything from old refrigerator boxes to coroplast signboard. You can get a $5 foam glider from Wal-Mart or other discount toy places (sometimes theya re in the grocery store too...) and add controls for a decent 2 channel glider.
Then get the engine... and go with the "SPAD" type trainer. this is a model made of coroplast signboard and PVC downspout. (you even cut the control horns from the downspout material) Bicycle spokes from a scrapped wheel or coathangers to get wire for pushrods. You can even cut the wheels from coro signboard... so what if you have to replace the wheels every 4 or 5 flights? They're virtually free.

These tend to be a bit ugly... but you can make some beautiful coroplast models with research into the needed techniques.
Coroplast can be free... from the local "quickee-mart" old advertising signs fly well.
www.spadtothebone.com
THEN get the more fragile wood construction aircraft. The wood planes do tend to be lighter than the SPADs and thus fly a bit better. (but Ihave made some very light, high performance, SPAD's...)
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The purpose of this method... get in the air faster on a budget without
buying JUNK. If you have the money to buy the ARF package deal... that is probably the best way to start now.