a foamy would actually be even cheaper. you are talking as little as $20 for the kit.
your biggest single expense will be your radio. if you plan on staying in the rc world, i would highly suggest getting a comptuer radio, and they can be had for quite cheap. it expedites setup, and gives you loads of functions you will probably want later on. if you end up leaving, a computer radio will be much easier to sell, and radio gear (except servos) usually retains it's value well. you dont need a computer radio, but i would reccomend it.