If you have to bind a book and have to do it economically, you do not need a book binding machine as you will be able to do it yourself by hand. All you need is an all purpose glue which is fast bonding to keep the pages together, a paperback cover (usually cardboard) to fit the size of your book, a paint brush and some cotton scraps.
Your first step is to ensure that all the pages are folded neatly and are in the correct reading order. Tap the pages till they fall into place perfectly. Once you have aligned the pages, clip them together with metal clips (these are available at any office stationery shop) to make sure that they do not move out of place. Once you have the pages clipped firmly together, take a paint brush and paint the spine of the book with the glue.
Once the first coat of glue is dry place the book on the edge of a table with the spine protruding and place a heavy weight (like a large book) on it. Repeat the painting procedure with the glue again. You can use the cotton scraps to wipe off the extra glue. Leave the book to dry while you prepare the cover.
For the paperback cover, you will need one that is larger than the size of the pages as you will need to have the spine of the book covered too. In the middle of the cover on the inside draw two vertical parallel lines which are the width of the spine of the book. Now apply the glue to this area between the vertical lines. Place the spine of your book against this area and close the cover. Re-clamp the book with the clips along the spine to add some pressure. Allow the book to dry. If done with care you should have a perfectly bound book, made by hand, that didn't cost the earth. Well done!