Now this as got to be the easiest bit of all.Browse to your WordPress install.php file and follow the on screen instructions.Blink how easy was that.I was gob smacked at how easy this was compared to some of the other offerrings out there.
Ok I was lucky my hosting company has an install script but to be honest the majority of hosting companies support WordPress so if you cannot see it in your control panel (Fantastico with SimplyBehosted) drop them a mail .
Remember this is about getting your site up and running on the cheap so if you have not sorted your hosting company yet pick one that supports WordPress at the right price.
If in doubt goto www.wordpress.org for their installation instructions.
You may also have noticed a number of enhancements on this site,adverts and Snapshot popups these are covered along with a couple of others in the Plugins section.