I read a reddit thread a while ago that described how simple it is to make a full grain leather belt. It sounded simple and my husband and I have been fighting back and forth for 10 years over a nice black leather belt he owns. We swung by Tandy Leather and bought the blanks, tools, and buckles for three belts for $70. I made two yesterday: one for my husband and one for our oldest son. We still have the makings for a third when our youngest outgrows his current belt. These belts should last about half of forever and they look great! We also now have the hole-punch tools to make belts as Christmas gifts and possibly make other small leather goods too.
LINK:
http://www.reddit.com/r/malefashionadvice/comments/k6uro/how_to_make_a_100_belt_on_the_cheap