If you plan on making just a few bows a horse shoe rasp, draw knife and hatchet will fill the bill for roughing out bows. If you find you are becoming a bow making addict like the rest of us, invest in a band saw, at least 14" and the more HP the better starting with a minimum of 1hp.
You can pick up some really great deals on band saws off Craig's list. I checked once for a friend in MS and found about a dozen within about 100 miles of his area, many in the $75 to $100 price range. The older American made Craftsman saws can be had for around $75 and are perfect saws for a beginner. They are 1/2hp but will cut anything you need to with a good sharp blade.