I often find that people spend more money on framing than on the artwork they have received, which is a pity, as framing, although finicky, is actually a fairly easy process. I just found a great resource, complete with detailed photo illustrations, that shows how to frame your own artwork, step by step.
If you don't have a matte cutter, you can easily purchase pre-cut frames (make sure they are acid free) or ask a local frame shop or art supply store to cut one for you. Frames are available in standard sizes online, at art stores, frameshops, and (gasp!) at the Christmas Tree Shop.
Although this site is aimed at framing Asian artwork, the steps are suitable for any flat piece you wish to frame. Take a look at this site , (http://www.orientaloutpost.com/howtoframe.php) dig out the prints, photos, calligraphy, etc. you have tucked away, and turn your house into a gallery!