Do you have a bow? If so this would be a fairly inexpensive hobby. If not it could get expensive. Personally I use an old 50 lb fiberglass recurve, a tape on reel, and have 3 arrows. (You always want a few extras.) If you could find a used bow, or one at a yardsale or something then you'd only have to spend about $30 or so for a reel, line and arrows. That is minimum, and it works. Like any hobby though, you can drop a bunch of $$$ into it if it's your thing.
Here's my buddy with my set up, and an asian.