Spaghetti is delicious and cheap. Home made spaghetti sauce is actually really easy, and can be made quickly in a pinch. This is my basic down and dirty, cheaper and better than ragu or prego, sauce that can be modified or added to quite easily.
1 can of tomato paste
1 can of diced tomatoes (I can and freeze fresh tomatoes but due to a lack of space we never have enough to last us how often we eat spaghetti so any store brand will also be just fine)
2 tomato paste cans of water
About 2 teaspoons of olive oil
A dash of salt and pepper
Fresh garlic if you have it, otherwise some garlic powder will do
About 2 teaspoons of Italian seasoning
A pinch of thyme
Put it all in a pan, and cook on low heat stirring occasionally. I like to cook my sauce for at least an hour, but really as soon as all the ingredients are combined and the sauce is hot, you can eat it. You can also add anything to this sauce, I like to add frozen spinach, leftover ground turkey, sliced and lightly sautéed bell peppers or mushrooms or both! Including the pasta this costs about $1.00 per person depending on your add ins.
We also like to make home made bread to have with spaghetti. It can be really easy and some recipes only use flour, water, yeast, and salt.