So…
What is your domain? :D
How I did it: Years ago I wanted to do this but it all seemed so daunting. Buying a domain is the easy part, however! I bought one with jumba.com.au after a lot of humming and hawing about the domain name (originally I wanted one that seemed a little too copycat of my friends, even though it was just alliteration with the word Princess in it... Can't I have princess and alliteration in my domain name? I thought. Oh well, a little juvenile-looking anyway I suppose!) and bought it after budgeting it in. But really, for $11 a year, what's there to budget?
Lessons & tips: I was going to say "consider your domain name carefully!" but then, the one I'm using was very spontaneous.. And you can always buy a new domain and redirect your contents, right? It's easy peasy!
Resources: jumba.com.au and my trusty debit card. Very important.