Hi Pete, I’ll add more links as I think of them.

Cheapest setup

A basic setup – 2 Lavalier mics plugged into a phone.

iPhone – Amazon
Android – Amazon

Recorders

I started recording straight to my computer (USB), then to an external recorder (ZOOM H4N Pro), and now the Rodecaster Duo.

ZOOM H4N Pro

Rodecaster Duo (up to 2 people)

Rodecaster Pro II (for up to 4 people)

Music

I got my music from Audio Jungle and paid $18 for it. There are some sites that want a monthly subscription, but this one lets you buy the usage rights. Choosing one is  hard, it took me days to decide.

Podcast Hosting

The best hosting company is Buzzsprout. They have lots of videos on how to podcast. It costs $12 a month for up to 2 hours. They have a free plan but the episodes disappear after 90 days which isn’t what you want.

This link will get you and me $20 each – Referal Link 

Microphones

The Rode is the better of the two mics. They are heavy, so you need a boom arm.
Both these mics can use USB or XLR connections. XLR needs to be plugged into a mixer or recorder. USB can plug straight into your computer.

Samson Q2u – Amazon

Rode PodMic USB Cardioid Dynamic Broadcast Microphone – Amazon

Boom Arms- Cheap ones can be noisy if you touch them while recording. – Amazon

Editing Software

I use Hindenburg, and it works great. I bought the cheapest version when I started, but now they only sell monthly/yearly subscriptions. 

There are free audio editing programs available.

After I have finished editing I run the audio file through Auphonic. You can get up to 2 hours a month for free. It brings the volume up to where it should be for a podcast and can remove any interference and heavy breathing. 

Recording in 2 locations

Riverside

Squadcast + Descript