I have one (or more accurately, am working on one) to promote my design and web work. It’s got quite a bit of photography now, but I’m redesigning it. Ask me for the link if you want it so I’m not spamming.
I have another one that’s a personal blog, hosted with the same people. It’s entirely possible to create your website for free, using tools like Wordpress (self hosted)and NVU. This article by smashing magazine has some great examples.
Hosting’s not expensive, but it’s not free either. I use nearlyfreespeech. If you think it’s going to be a high traffic site, use something like dreamhost.
I’d start by going to your library and getting a book on HTML or CSS. You need to know both to make a good website. I’d be careful if you’re job hunting, people will google your name, and unless you’ve gone through all your public profiles and sanitized them, it might not be such a good idea.