So a while back, I bought a set of test tubes with a test tube rack, 72 to be exact, with the purpose of beginning to start culturing yeast and making slants. After a year and a half passed, I finally got around to trying it. It was actually much easier than I thought it would be (although the results have yet to be shown) and I should end up saving quite a bit of money in the long run.
I basically used the guide on the Homebrew Talk Wiki. Where it gets to inoculating the blank slants, instead of using a needle and poking the wort gelatin, I made an inoculation loop out of some stainless steel wire. If you are too lazy and don't want to make inoculation loops, you should be able to buy them from any science supply store.
Moral of the story, don't be afraid to try new things when homebrewing. You may save a couple of bucks. Right now, I have a yeast bank containing an Irish Ale yeast, Scottish Ale yeast, Bavarian Wheat yeast, American Ale yeast and Californian Ale yeast.