Even if you had more than a penny to spend it would be best to start with free software/cracked etc but I would get the money to buy your domain as if you succeed , as you hope to, your site has a value already as well as an income.
Also you don?t want to waste your cash as you learn, the whole thing about IM is making money rather than spending, hopefully others will be spending and you receiving.
Good luck and keep your thread going, I always think these threads are very enlightening for many if they go full course.