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how much time and money per month do you spend to keep this fully functional?

Money: basic zero just a small about for electrical and bandwidth

Time: I could spend close to zero time but as a hobby I often spend a hour a week trying to do some re-balancing.

So am I just misunderstanding the whole "pay to open a channel to a popular node" thing? Are you able to send and receive payments anywhere?

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I overly simplified my original answers.

There will be an on chain transaction (which will require a fee) to open a channel.

This video help me understand the basics of the lightning network. Some info might be dated but the basics should still be valid.

view on youtu.be
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Is that a one-time fee, or do you pay regularly? Also, out of curiosity, what do you use your node for?

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It is a one-time on chain fee.

There might be a routing fee depending on which other lighting nodes your payment is trying to make a payment to. But the routing fee is usually a lot less then onchain fee, which is one of the main advantage of the lighting network.

I use my node to withdraw my custodian sats to. "Not your Keys, Not your Coins"

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