Here is my try at it.

Credits: Template 17 by Simply Yin, Dude Totally by Tia Bennett, font babykruffy and Myriad Pro.
The Goodies
I have tons of links to free and cool stuff but I will only post what I've tried out.
Free fonts: Here is a link where you can find free fonts, i've already used 3 from this site 1001freefonts.com
Free templates: Designer Simply Yin is amazing, this is my second time downloading her templates http://simplyyin.blogspot.com/
Free Kits( basically a set of papers, frames and embellishements that all match ): I downloaded "Dude Totally" by Tia Bennett from www.twopeasinabucket.com. They have 52 kits for free. I've been a member for a few years now, I love this website.
It is very important to credit the designers if you use their materials (even if it's free). Most of the materials you download will come with a TOU (Terms of Use).
What you need to know to get started on Digital Scrapbooking:
All you need is pictures, your own computer with a lot of memory (I started to save my files to cd’s because my computer can’t take it) and a photo editing software such as Photoshop Elements.
According to my research, Photoshop Elements is a great software to use. I am using an older version of PSE (3); this is working fine for me, for the level I am at.
My work & findings:
I have created my first 6 layouts (you can view them on my slideshow) by downloading papers, kits, embellishments to compliment by pictures from the Internet (for free).
Yes, yes there are a ton of freebies on the Internet!! And they are easy to find most sites will have a dedicated section on freebies.
There are also tons of free tutorials on the web. My friend Vicky (who happens to be a great designer and a published one too) pointed me out to this really great site
The Sprague lab a Little Studio of Scrapbook Alchemy:
http://spraguelab.squarespace.com/blog/
This website offers step by step tutorials, some are even videos tutorials.
Another great way to learn is joining forums. I just joined http://www.godigitalscrapbooking.com/ ….its an awesome forum with so much more. I was welcomed with open arms and encouraged to post my LO (acronym for Layouts) and there is tons of support. So I am working on a layout for the “scraplift challenge” which I will post in a few days.
My goals for next couple of days
1. Scraplift challenge
2. "Layouts ready for Web"-Apparently I am not resizing my layout for display on the web properly ( I just happen to bump into this information when I was getting the links above). So today at some point, when Megan goes down for a nap I am doing this tutorial:Resizing your layout for display on the web, PSF'06 #4
What Is A Scraplift?
A scraplift is when you take inspiration for your layout from someone else's layout.The inspiration can be anything - the layout of the page, the style of photo, the effect used on a photo, the kit, the colours, the quote - anything at all about the layout.Please note that when you scraplift someone's layout, it is polite to credit them with creating the original layout - even providing a link if it is allowed. Definition credit, godigitalscrapbooking.com
Wish me luck and happy scrapbooking!