Hi I am a long time bow hunter and love it.
You said cresting when you strip an arrow or dip an arrow.
I have trouble understanding why people put paint on an arrow that dos not need to be there? But you asked about how you could do it cheep.
Do you have a 3/8 or 1/2" drill? Stick your arrow in there.
As far as tips for setting up an arrow, that's a tuff one there is to much to list. If I were just asked only about arrows I would need to know what you are shooting? Are they aluminum, carbon, maytrix ect...?
I hunt with aluminum but target shoot with carbon fiber.
Here are just some tips you might find help full.
Just start with building one arrow so you only mess up one arrow.
For a beginner get carbon arrows there tuff wont break easily.
I like the glodtips as far as carbon arrows.
Get bright colors fletchings so you can see blood and so you can find your arrow when hunting.
Get the rite glue for the right job, mainly being fletching glue.
I use hot glue for my tip inserts, then when I tune them, I just heat them with the hair drier.
To see if your arrows are true hang them from a magnet then spin them if they walk all over you have a bent arrow.
To balance your arrow, this is just to much to cover. I be hear till the cows come home
last if its possible make a friend that's into bow hunting then learn from him.
10 years hunting I still find out new tricks
when you run in to your first problem then ask.;j