Yea I did see a few spelling errors too. You got the right idea. I would get off the free hosting though.
You'll never know if it's worth it until you try it. I know what it's like to start with nothing. I really had a hard time paying the $85 is cost to get my domain and some hosting when I first started. What other business could you start up with under $100 and be earning 5 times that in just a few months? And if it's done right you could be earning 50 times that before you know it.
If you think you will put the required effort in it then go for it. Otherwise don't think you can just make a site and the money will stat rolling in. It will take up all your free time to get it to the point of earning some decent income.
Most affiliates can make their start up costs, if they are small, back in the first month. I made well over my $85 and re-invested it into other ideas.
Good luck. We are all here to help you if you decide to go for it...
