Hey there,
Totally agree with jdub - keep blogging for a month or two, get/write decent content, make some money on it first and then think about getting a hosting account.
You might realize in a few weeks that blogging is not for you and you're stuck with monthly payment for something you don't need.
Really - make some money first and then invest it.
By the way JoeBlogs - what's your blog about? Do you have a theme or will you just blog about everything? How are you gonna make money from your blog? Or, are you planning to, I mean?
Good luck
Katharina