Free: Contests & Raffles.
Go to an Asian food market. I bought black label size herring for $3.50/lb and a whole small octopus for $7.50. I went to Uwajimaya in Renton. They usually have sardines, mackeral and squid as well. Food grade bait is better than sporting good store bait IMO, plus you don't pay the extra taxes.
If you have an old blender ,I'd use buttjuice ,some older tuna or salmon scraps,herring,anchovies -basically anything you can find ...mix it all together and put it in crab bait jar (the one with screw on lid and weep holes) ,hook it onto your downrigger cable (if you're anchored up )or make smaller container from pill bottle and hook it up to your rod line . It should work .I have also used pieces of sponge soaked up in butt juice and tied up to my line with magic thread.