Well how cheap is cheap?
I suggest you to buy Epson C86 or C66 - all under 100 bucks.
C66/C64 are even under $60.
Or if you need "better" one, Epson R200 is a good choice as well. it can print CD/DVD.
However, none of them can "save" you money physically.
The most expensive part is the "INK"
You may want to buy a continuous ink system / Bulk ink system for your printer:
InkRepublic.com does great job of spongeless continuous ink system, especially for C86, R200, 2200, R800 and every individual cartridge model:
They are having 20% off and free shipping for xmas sale.
If you can use this kind of system, you are for sure get a "CHEAPEST" one on top of all the cost.