For this book, once you have most of the base materials and tools, making another book won't be expensive at all, but the first one might be more expensive if you don't have anything to begin.
-Razor blade in a handle (with a few sharp blades)
-Ruler (metal preferable for make straight cuts with a blade)
-Paper (they come in large sheets at an art store. You won't need more than one of each kind of this project. I used a blue leaf print for both the outside-background and the inside lining which can be different, and a red for the raised cover)
-Book Cloth (Just the place I use
)(I used one for the binding and a different one for the pen holder which was just because I had the extra material. You will get one large sheet or roll and you will use about 1/10 of it)
-1 page bristol board or other thin cardboard like a cereal box
-Moleskine insert (whether it be blank, lined or dated) It is also called Cahier in the moleskine world
Everything can be bought at a craft store even the book cloth, though you might have more trouble finding that so I go on line for quality and color choice.