You shouldn't just look at the price of the printer - you may well be on a budget, but if you could pay, say, $20-30 more, and end up getting more life out of your inks, wouldn't you want to do that?
The really cheap printers are going to have a 3-color single cartridge for the most part. If your cyan runs out, but you still have lots of magenta and yellow left, you STILL have to throw away the cartridge, and end up wasting a lot more ink than you think.
Instead, try to get a good HP that uses the 564 or 920 series inks. They usually have 4 individual inks, so if you run out of a color, you only have to replace that color, and you waste FAR less ink.
Check out this deal at Office Depot (looks like it's good through Saturday) -
HP Officejet 6500. It's $119, with the individual cartridges, and good printing quality for photos.
Also, remember that you'll generally get better quality images if you use the same paper and ink brand (so HP printer and HP photo paper, for example.)
Hope this helps!