Since the keywords a re spanish and little used i am suposing the lowest bid (I think this is 0.05 cents) will get my adword ad up adn running. I also understand you can place a top amount to spend on a day. But is there a minimun amount of money to start?
When you create your AdWords account they do charge you $5.00, which is later used against your ad charges. (Call it an upfront payment.) It is required and other the the minimum bid amount, the only minimum I'm aware of with AdWords.
From there set your keywords and maximum bid amount for your ad group(s).
At a campaign level you can also set a maximum budget amount per day. This amount will be the maximum you ar charged, per day, over a billing period. Anything in excess (overall, not really per-day: if (Days_in_Period_)*(Budget_Amount) > (Charged_Amount) )is credited back to you as an "Overage credit".
That's about it really -- have a read through the FAQs on the AdWords site for more detail.