When I downloaded Teamspeak from the main site there was a complete guide to setting up the server and the client.
The server is only needed by one person to set up a channel for everyone to talk on.
Then everyone who wants to chat installs the client.
http://clanservers.multiplay.co.uk/help/ts2_guide.htm
The link is to the total newbies guide to teamspeak you probably just need to read the client bit unless like me you run your own server.
edit
If your in the uk try visiting a store like poundland or pounstretcher they have cheap albeit a little fragile headphones with and without microphones and also desktop microphones, sry dont know the equivalent stores for other countries.
A pound isn't a lot to see if your system works ok for in game chat then you can go elsewhere for a better headset or just mike.
If you use desk microphone and speakers there may be a feedback problem that will annoy others your talking to, where sound coming out the speakers gets fed into the microphone and recycled again.