#1
So now that I've gotten a job, I'm gonna put some money into recording. What is the best way to record acoustic guitar and vocals at home with a budget of a couple hundred dollars? I already have a cheaper condenser mic with an M-audio USB interface, and I've been using Audacity to record
my gear
amp: Marshall 200-Watt 4x12 w/ Fender FM100H
guitar: Ibanez RG4EXQM1 Quilted Maple Top Transparent Grey Burst
#2
what mic do you have? it sounds like you already have the budget setup. if you want to toss in more money towards it, you could pick up some monitors, a new mic, or maybe a new DAW (i've heard good things about reaper, but i'm a bit partial towards Pro Tools and Logic myself)

if you go with monitors, dont cheap out on them. get decent ones or dont get any till you can afford them.

my thinking when it comes to buying any kind of gear is if you already have a workable setup (which you do), there's no point in spending money on more low end gear. now's your chance to save up to make purchases that you wont want/have to replace any time in the near future.
#3
I'm thinking about saving my money for now and just use what I already have.
my gear
amp: Marshall 200-Watt 4x12 w/ Fender FM100H
guitar: Ibanez RG4EXQM1 Quilted Maple Top Transparent Grey Burst