Here is an excellent site with pragmatic solutions on how to design or redesign a website if your "internet" funds have been reduced.
I have made a short summary of each of the five points, but reading the whole article is worthwhile.
1. Realign rather than redesign
One good point this web article makes is that a complete overhaul of your site may actually confuse your loyal visitors. Rather than make colour or layout changes, why not look at what the site is actually doing - is it providing the appropriate information, is it preventing viewers from getting that information quickly and efficiently? Then "realign" accordingly.
2. Simplify
Instead of adding content, links and other features, why not reduce or remove? Careful analysis of traffic to the website will indicate which features are popular, and which aren't.
3. Prioritize and phase development
Make changes on an incremental basis. Have the core of the website ready, but make new additions over time. This works well, for example, with content rich material such as photos and videos. Have the space available for them, but install them over time, or when they're ready.
4. Reuse and recycle
This is really a variation of the first point. Use, for example, the already constructed Google maps, rather than designing your own interactive map. Or Youtube and Flicker to add video and photo content, rather than designing custom video and photo galleries.
5. Move beyond the website
This relates to my post of about two weeks ago where I said "Blogs are the new websites". Why not open a Facebook or a Myspace account? You can post pictures and videos on both, and update your readers on various activities. There is room for short biographies and other content (even if you are selling things). You can open these sites for free, and many blogging sites are either free or of minimal cost.