On my old touring bike I bought a front rack and rear rack for $15 and 17 cdn each:
something like these ones:
http://www.mec.ca/Products/product_d...=1261089024216

http://www.mec.ca/Products/product_d...=1261089024214

Maybe check REI for similar inexpensive racks? I had no problems with these racks but now tour on a recumbent where of course to fit a specialized bike needed expensive-ish racks.