shooting squirrels in your yard is good target practice but I don't think I would call it huntin'. They are a pest around the bird feeders and a bow is the perfect way to get rid of em quietly. you can also try stalking them after deer season goes out. It is awesome practice because it builds up all your deer huntin skills. The only bad part is losing arrows. Broadheads are out of the question because of money and they are just over kill. Your best bet is a small game head like the g5 or judo point. Both heads are built with prongs that keep the arrow from sliding under grass and leaves but won't tear up near as much meat as broadheads.

g5
JUDO

good luck