need tips on recording, "the budget" way

My audio lecturer told me about a "triangle" theory.

Fast---Cheap---Good

You can only have 2 of the above, but can't have all. Simple but relevant.
 
A basic tip for recording, no matter pro or amateur, is to watch for clipping. Do not let your recording go waaay over the red zone, if not it will distort and sound like a mess. Make sure the level is around -2 to +1 dB, and you will be fine. Your recording software should have a meter for you to see. If you are using a computer, play around with the mic boost. My band records with it OFF. The sound is rather perfect. The mic is best placed at the center of everything so everything can be recorded. What my band does is that I get everyone to play an E with a beat on the drums and adjust the recording volume accordingly, then play a section of some song to test out and fine tune accordingly. The recordings come out pretty good for a cheap ass budget recording.
 
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