Just starting out if I were you I'd look at Barlows or Janns and find a cheap mold that would make a decent bait. I'd buy it, a quart of plastisol, a couple of bottles of dye and some glitter. Then I'd make some baits and fish with them.
That will allow you to get into the hobby for a few bucks and you can branch out and expand if you like it.
As for making your own molds. I use Bondo from the auto parts store. I glue the baits down with pvc cement.