Lord Ernie
First Post
This is pretty much how we handle things. That way, you can also add the occasional extra information for players that need it (such as calculating the damage for secondary damage rolls, like our Sorcerer's Flame Spiral), and you're always working with the latest errata.The Character Builder on DDI really is the easiest way to handle cards.
You can print out a new set every time something changes.
You don't even really need to print them in cardstock. Just normal paper. Put them in protective sleeves and slip a regular playing card behind them to give some rigidity.
As for having a limited budget: I'd recommend using a one-month subscription (which costs $10); perhaps take one for October, or wait for Heroes of Forgotten Kingdoms. That should set up you pretty nicely. If it weren't for the compendium which I find indispensable for my games, I'd probably go for a once every four months update scheme myself