[CatalystiCam]

yeah, money investments for this can be quite a lot. A good mic will cost you quite a bit. Mine was 110 dollars, and it's still not perfect. I'd advise going after a stand mic, rather than the headset in the case of saving cash. Getting the headset with it is also paying for speakers rather than just the mic.

I use Camtasia Studio to edit, which will run you quite a bit. It was 70 when I got it, but it's gone up to 100 or 200 since, something insane like that.

Skipping the step of getting editing software, you can do livestreams on twitch or other places. This also requires software, but something like Xsplit can be free, it's just better quality on the full paid version.

Depending on whether you're planning on recording from your tv to your computer, or just off your computer, you either need a capture card (for tv), or screen recording software (for your computer). I know Camtasia has a pretty in depth screen recorder as well.

What I use:

Mic: Logitech h800 wireless rechargable USB Headset - $110
Capture Card: Diamond VC500 One Touch Capture SD Recording - $50
Editing: Camtasia Studio 8 - $70 (now $200)
Computer Capture: Nothing right now, Camtasia when I get my new computer.

So, it's really not a cheap process. However, you can use a built in mic, get a free screen capture program, manycam comes to mind, and edit in something like movie maker/use free xsplit for livestreams, but the quality won't be the best. Most built in mic's are not of a good quality. Manycam is not good quality either.

Edit: My capture card is Standard Definition, meaning I can't record in HD, but in my case, where I'm not playing any HD games anyways, it doesn't really matter. Standard Definition Capture cards are a really good price now because everyone gets the HD capture cards, which I may do eventually.