cheapest way would be,
You'll need:
Sand paper, you can get an assorted pack (different grits)
Primer (self etching)
High gloss enamel (Whatever colour you want)
Prepsol
To start just sand your frame you dont have to go to metal but if you want it to last do it, the time is worth it. Then use prepsol it is a wax and grease remover (Some people use turps) go over a 3-4 times with a clean rag.
Then you are up to painting start with your primer, Get a bucket of hot water and leave it in their for 5 minutes. it paints a lot better when the paint is warm, do a really light first coat dont blitz it and the second coat do it like you would with normal paint. Let that dry over night, and then use the paint...Heat it up like the primer and then do a really light coat to start same as primeer just take it easy then give it more do 3-4 coates...
Result is pretty good and you would be able to pick this all up and do it for around $30 mabey even cheaper.
Hope that helps, anyone can correct me thats just how i have been tought.