I would second the notion of chest freezer. If you are really concerned about cost...and if your husband does not care about used goods: I bought a small chest freezer on craigs list used (it looked brand new) for around $100, and a second one that was a little more beat up for $75 (both within the last 18 months). Both hold five corny kegs (pepsi or coke kegs - cornelius kegs) - seven with some slight modification. They would also easily hold a full size keg (or two with some modification). Just measure out the type of keg he uses, and ask for the inside dimensions of the freezer box when you call someone from Craigs list. I actually marked off the inside dimensions on the basement floor with tape, then tried to fit as many corny-kegs into the space as I could - before I bought my freezers.
If you get a freezer, you must also purchase an external temperature regulator (the freezer will get too cold with the built-in regulator). Inexpensive temperature regulators can be purchased for around $25 on ebay.
Also, you can check your area for online restaraunt equipment. Where I live, we have an online auction house that clears excess equipment...some of it comes from bars that have gone out of business...the stuff generally sells for pennies on the dollar. I purchased my CO2 tank, regulators (2), and tower with 7 faucets from a used equipment auction site for around $100.
You can also get a lot of stuff used from Ebay...but be careful if purchasing regulators...the seals can go bad, and what appears to be a good deal, only nets a leaky unusable regulator (I have never tried to rebuild a regulator, so I don't know the level of difficulty involved). However, I have purchased a couple of brand new two-regulator sets for around $45 on Ebay; sometimes you just get lucky...but you have to do a lot of searching.
Do not be worried about purchasing used faucets...if any of the seals are bad, they can be completely rebuilt for a few dollars. No need to purchase fancy new expensive faucets...the old style works just fine.
The gas and beer lines can be purchased at Lowes...it is the clear plastic stuff with threads running through it. You can also find all of your line splitters there. Check your prices though, there are a few online suppliers that have really good prices (even with shipping).
On a final note, check Craig's list for used kegerators...you would be amazed how many people bought them during the HELOC-laced "boom years", only to try to sell them when money gets tight. You may be able to pick one up on the cheap if you can negotiate well. I found several of these when I was looking for one for a friend last year...I decided building one as cheaply as possible was more fun.
Hope this helps,
Pikledbill