Mapping custom domain with Blogger

[Nomad]

One of the interesting ways to create a website with a custom domain for a very low price is by mapping a domain with Blogspot. In order to do this you first need to buy a domain, a dot com costs around $10. Once you have the domain, you need to create a blogspot account and then point your domain to your blogspot. By doing this you will save money for website hosting. Has anyone done this?