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Begin by choosing a format and naming your newsletter
To save time and money later, decide early on: Will the newsletter be emailed or printed? If it's the latter, will it be 2 pages, 4, or more? Printed in black and white, 2/c, or 4/color? Do you need a logo? What about a designer to give the newsletter a stylish look? All that affects the total cost.
Since I'm not the greatest newsletter namer, the no-brainer advice I offer on the subject is 1) include the topic of your site in the title and 2) use the word News or one of its synonyms that also indicate timeliness.
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