i need bike and swim guidance

I sure hope it is possible since that is about the time frame I am working with.  The TI book is helping quite a bit for me.  I don't have the video and I have thought of getting it but we'll see.  I started doing just the lessons from chapter 8 and then went to some of the practices in the back of the book.  When I first started I could barely make 25yrds without needing to catch my breath.  Now I don't know for sure on distance since I am mainly doing the drills and taking my time, I do know that my warmups are usually 100yrds and my cool down is 100yrds or so.  There is improvement it just takes time.  I try to go 3 times per week but can't always make it.  I think consistancy, time and patience are what is called for.  During my 3 workouts I spend 2 of them basically on drills only, apprx 20-25 min at lunch.  I try to get in a 3rd workout that is somewhat longer and thus harder for me to fit in but it works on drills in sets of 50 with 30 sec rest for 200-400yrds then just work on swimming with good form for awhile in either sets of 100's or sets of 50's.  I figure to do this for another month or two and then start working on distance swimming.  Right now getting down good form is the most important part.

I too am a beginner swimmer. I did my first (and only) tri last fall, with a 500m swim, doing it after only training in the pool for 1 month. It's a big difference between pool and open water. I'm back to training now, and can only swim about 50m at a time, but I'm hoping to work up to a 1000m race by the summer. I got the Total Immersion book too, and have just started reading it. I hope you can get up to your goal distance, as that gives me some hope. good luck!
One piece of advice: get a wet suit, as the buoyancy makes a BIG difference.

You're right about consistency in the pool. Your body just has to get used to it. I've been swimming for years but recently started timing myself and entering races. I, like you, couldn't make it 50 meters without wanting to stop. About six months ago it took me about 32 minutes to swim a half mile. Now it takes me about 18 min for the 1/2 and 40 min for the mile. Swimming is more mental than anything (just like running, biking or just about any strenuous sport you do). Get your psyche right and you'll do fine. Try to swim at least three times a week. If you're doing drills try to do distance on the last session of the week. Each week or every other week try to increase your distance until you're swimming 500 m regulary. Soon 500 meters will be your regular work out and you're off to swim, 800 (1/2 m) then 1000, then 1600.Before you get into to speed and distance please hone your technique. Getting the correct techique and stroke will save you a lot of energy down the road. Swimming isn't about brute force it's about finesse. And having a great stroke and kick will do you a lot better than having speed. Speed can make you run out of gas, finesse can make you fast and last for the long haul. Good luck.

Start bike shopping now. The new season is starting and last years bikes are being marked down. You should be asking about used bikes also. Bikes don't die very easy, they just need to be tuned up every now and then.

If you train in the swim for 5 months and have help from a coach or at least someone who is a good swimmer, you will be able to do it. As for the bike, 200-300 dollars is not much for a good bike. Try to locate a local bike club and see if they have a web site with a classified section; there are usually good bikes to be had for a good price there.

The swim is my strength - I think 5 months is plenty of time. I want to re-emphasize something said earlier. A coach or a good swimmer will make a world of difference. You need to work with someone who knows what to expect. The thing about the swimming portion is that I believe it is the most technical part of the triathlon. You can walk the run - you can coast the bike, but all you can do is swim the swim! You need to work on having as efficient a stroke as possible - a good swimmer or coach can really help you iron out the rough spots. Books and videos are good, but can't give you feedback on YOUR stroke.

Go for it tac, and don't let the equipment stop you - if you have to borrow an old huffy - do it. The weird thing is that there are probably lots of bikes sitting around in garages doing nothing for the next 6 months. Wish we could find a way to redistribute the wealth!