Pictures expressed as links.
Purchasing Your Domain
Go to
http://godaddy.comWhen you get there, you will see this screen (or something close to it, depending on how often they change their style):
http://i49.tinypic.com/2wqwjg6.pngEnter a domain name you would like to purchase into the search box and click "Search"
When you do so, you will be directed to this page:
http://i47.tinypic.com/w1sgo7.pngIt will tell you whether the domain is available or not. Check the domain you'd like and then click the "Continue to Registration" buttons.
It will then take you to this page:
http://i51.tinypic.com/2cp59mt.jpgIf you do not already have an account with GoDaddy, you will need to register. If an account is already set up, you can just login.
The other things on that page are pretty self explanatory and are their way of getting you to view all of the options that they can sell you with the domain.
The rest I can't show you unless I actually purchase the example domain. It will ask for your credit card information and other stuff for your account. Register all of that and then purchase the domain. If you get confused with anything, you can PM me screenshots or post them here (making sure no personal information is visible) and I or someone here will do our best to help you through it.
Setting Up Nameservers
Login to Godaddy
Click
Domain Manager on the menu on the left under "My Products".
You'll see your domain name on the next page - Click on it.
STEP 1:Scroll down to the bottom left of the page to
Host Summary.Click the (
add) link.
(see image below)
For Hostname put:
NS1Directly under that put the IP Number
(you'll find the IP Number in Admin > Domain Manager)
Click
OKClick (add) again
This time put
NS2 for the hostname
Click OK
STEP 2:Click on the
Nameservers button on the toolbar then select
Set Nameservers(see image below)
Put a checkmark in
I have specific nameservers for my domains.
If it is not already there enter ns1.your domain name and ns2.your domain name
Click
OK 
That's it at Godaddy!
FINAL STEP:Wait at least 24 hours and then go back to the Domain Manager on your forum.
In the text box near the bottom, put your domain in and click "Park Domain"
This will appear below it:
yourdomainname.com
VERIFY URL click on verify link if you see
1 you can update the url.
Update Forum UrlDO NOT CLICK UPDATE FORUM URL YET. Wait AT LEAST 24 hours. Then, every few hours, click "Verify URL". It will take you to a GoDaddy page most of the time. When it takes you to a blank page with a 1 in the top left corner, you can THEN click "Update Forum URL"
Congratulations. You now have your own domain. If you have any questions, comments, suggestions, etc. Please post them here