Sieze, there is a lot of homework to be done.
Start your next post in the NOOB forum.
Read this thoroughly: http://www.miataturbo.net/forum/showthread.php?t=4288
Then sit down and make a list of everything you want. As you do research you'll start to find the "little things" that start to ad up and kill you.
For example, a good clutch to hold 220whp will run you about $350-$400. Don't forget rear-main seal, upper/lower shift boots, CAS rubber cap, tranny fluid, front/rear tranny seal, slave cylinder, clutch line, clutch fluid... of course you don't "need" to do all of that, but to do it right the first time SO YOU NEVER HAVE TO **** WITH IT AGAIN EVER, a simple clutch job is gonna run you $700 assuming you do it all yourself.
Also, nobody will tell you it's a good idea to throw 220whp on an otherwise stock Miata... things like tires/wheels, suspension, brakes, rollbar, safety, etc... are stuff you want to investigate first.
This is assuming the car is good to start with. Regular maintenance, mileage, compression, overall health of the motor are things to investigate to see if it's even a candidate to be turbo'd. I'd say that if your compression is less than about 180 across the board, you're going to be needing a new motor in less than a year.
I'd start slow and SAVE! If you still live with your parents, it's probably a good idea to start out with a good set of tires/wheels, some shocks/swaybars, rollbar, and brakepads/lines. That stuff is gonna run you $1500-$2000 depending on what you buy and how much you can buy used.
A decent turbo setup with quality parts and Megasquirt should run you about $2500-$3000 depending on how fancy you get. You can do it for less, but it's gonna require some hookups and YOU'VE REALLY GOT TO KNOW WHAT YOU'RE BUYING! Then don't forget a clutch.
And, if you go with some wide/sticky tires and put 220whp through the stock 90-93 6" rear dif, it's gonna blow. Full 94+ 7" conversions can run as cheap as about $500.