It's true, you do not have to spend a single cent to start a good fast blog, powerful enough to serve millions of page views a month, with all the content professionally published.
Register a blog with Blogger and choose a good template. The template is half of your success because people do judge a blog by the way it looks. Blogger Templates is a keyword you must search using Google. There are many sites offering good templates for free but the best is BTemplates dot com. Choose a template that gives you enough room to insert widgets as you will insert a lot.
Now what you need, aside from good content, is a big list of links to other useful places. Find similar blogs and link to them only after the blogger links you back. If you link and ask them to link as well, they will think you will not remove the link and not link to you because that would mean he would get a lower search engine rank, as compared with a one way link. Reciprocal links are better than no links but worse than one way links.
Blogger alone is really the only thing you need, now it is time to write as much content as you ca about just one topic and watch traffic coming.