I go the cheap, labor intensive route: a small hacksaw, a surform rasp, one half of a pair of scissors for scraping, a four way rasp, a couple of chainsaw files, Titebond II or III glue, and several grits of sandpaper. For finishing, I use stain and several coats of tung oil. I can get it all from a local home improvement store. You are going to want to buy or make a tiller tree. You can use a bathroom scale with an adjustable zero point to measure the draw weight.
Good luck and have fun. Making your own bow is very rewarding.
* You might want to move this to The Bowyer's Bench section.