Ah budget recording.. thank god for my setup...
Well you can save yourself the hassle of getting a mixer by getting recording equipment with a mixer built into it, if your recording into a computer, theres a few decent software mixers out there with several input capabilitys, but if your miccing into the mic jack its gonna sound *farts* crap.
Get some good mic's aswell, or else it will sound chunkty and scrappy and blergh horrible.