When I first learned about the Weston A Price Foundation, the first change I made in my household was making bone broth from scratch. I saved bones and scraps from meals and stored them in a bag in my freezer. When the bag was full, I dumped the bones into a large pot and filled the pot with cold water. I added about 3-4T of cider vinegar and let it sit for an hour. I simmered the pot for 6-24 hours at a very low temperature, then cooled and removed the fat.
If you are trying to save pennies, don’t throw out this fat layer. Save it for high temperature frying. (Fat from pastured animals is good for you.) The broth will be rich in gelatin, calcium, magnesium and phosphorus. This broth will be a great addition to soups, stews and reduction sauces. If you want to make a lighter broth, repeat the process again. This second-run broth will not be as rich in gelatin.
Warning: If you make bone broth you will never be able to go back to store bought stock again. Sorry, about that.
If you are interested in traditional recipes like your great grandmother used to make, Nourishing Traditions by Sally Fallon is a great source. It is available at the Kamloops Public Library. Here is an essay by Sally Fallon called Broth is Beautiful.
Updated June 8, 2010: I have found the bones, boiled for bone broth, make a wonderful soil additive. Normally, bones take a very long time to decompose in the garden. The waste bones from bone broth will completely disintegrate in the garden, within about a year.