Three years ago, when I was a novice to the graphic world, I bought a piece of software "Cosmopolitan Virtual Metamorphosis", which enables one to change hair pieces and accessories on victims unfortunate enough to have their photo in your possession.
One of the reasons I bought it was because it came with a free digital camera.
The camera was really something that you would find in a cornflakes box......., but that being said, one in fifty or so of the photo's were good enough to work with or print out or email to someone and the forty-nine thrown away captures didn't cost a cent.
I say go for it, capture some moments and get a feel for digital photography while saving for something really good.
The prices for decent cameras are still on the way down, the longer you wait to buy a good one the better off you will be.
This camera could stop you missing out on memorable photo's untill then.