Hi Noah, If you have a digital SLR like the Nikon D series you can get a small plug-in GPS dongle ( http://www.nikonusa.com/Nikon-Products/Product/GPS/25396/GP-1-GPS-Unit.html). I think they run about $75 or so.
The iPhone option is workable, but only if you have cell reception as the iPhone uses an AGPS system, not a true GPS. The AGPS is a hybrid system and works by determining its location from known fixed points. Magellan has a unique workaround for this. It's a waterproof batterypack case for the iPhone with a true GPS built in (http://www1.magellangps.com/toughcase/). This sells for about $170. There are a number of point-and-shoot digital cameras that incorporate geotagging capability as well ( http://www.brighthub.com/electronics/cameras-camcorders/articles/91349.aspx). These cost up to $350 or so, not sure what the lower cost point is. For this money you can probably find a used Nikon D60 or D40 and buy a dongle as well. You can just carry around a separate GPS, but, having done that with some of my work, I found that clumsy and requires more unnecessary record keeping in the field than I like to do. Good luck, Neahga Leonard