If I only had $100 to spend on podcasting gear …
“I want to start a podcast, but I only have $100 to spend …”
I can’t tell you how many times I’ve been approached by people who start a conversation like this. Or why “$100” is the magic number that everybody seems to have available to spend.
As far as your software options, that’s an easy one, since there are two great programs you can use without charge:
Audacity - This is the world's most popular audio editing and recording app. It’s open source and used by hundreds of thousands of people.
Cleanfeed - Cleanfeed will let you do remote interviews.
For hardware, you’re going to need a mic and a way to connect it to your computer or other recording device.
If you have a little more than $100, Focusrite’s Vocaster One Studio will get you everything you need (including headphones and cables) to record yourself.
If you have a little less than $100, or you want a USB mic, Audio-Technica ATR2100x-USB is the way to go. It plugs directly into your computer, so there’s no need for an interface.
Either of these options are things you can grow with. The Vocaster interface is excellent and has enough power to handle any XLR mic you might upgrade to, including gain-hungry broadcast mics like the Shure SM7b. In addition to its USB connection, the ATR2100x has an XLR connection, which means it can record in any situation you might find yourself in.
My belief is that “the right” mic (or any piece of equipment) is the one you use. If you’re ready to podcast, don’t overthink this—get something and start recording yourself.