I'm new to this section of the forum following a rather aggressive google bashing

I'm an avid knitter and struggling to keep up with the costs of quality wool but don't want to have to settle for lesser quality fibres just because I'm relatively poor!
I am considering taking up spinning to reduce the cost of my wool. Is this practical? Or will it just end up being another hobby that I get addicted to and actually costs me more in the longrun?
I have to get the craftsters approval before I approach DH with my proposal because if it looks like it's going to cost him the earth he'll quickly lose interest!
Initially I plan on using a spindle because it's extremely low cost to set up and I won't be worried if I just can't get to grips with spinning. I had a quick look at buying raw fibres (so-to-speak) as I don't want to rush out and buy several angora rabbits until I'm sure of what I'm doing-and that I'm going to get along with it.
There doesn't seem to be all that much difference in price between buying the ready to knit stuff and the fibre for spinning-or am I just looking in the wrong place?
Any advice you can offer is GREATLY received!