Cheapest way to pipe sound into computer for skype lessons
 

Bought a webcam to take skype lessons, but the built in mic just doesn't do it. Whats the cheapest way I can directly get my instrument to my computer for a live video conference?

I have a Xenyx 502 Mixer and a Zoom G1U but im not sure those will work for what I need.

Don't you still need a Mic for voice?
The Xenyx can do both.
Get an adapter cable the output of the Xenyx to the Line in on the PC

can you elaborate on this a little further im pretty illiterate when it comes to this kind of stuff.

Do I just run my bass into the line in, then one main out to my amp and the other main out into the line in?

Also, if I want to use the built in webcam mic for voice how will this effect the equation on skype?

Really appreciate the input.

Also what is the adapter cable called exactly that I will need?

Get a USB mic. Plug & play, and you're done.

FWIW, if you're on a Mac, nothing comes close to the Apogee Mic. It's a no brainer, just go for it. If you're on PC, check out the Blue Spark Digital.

I haven't tried this, but you might be able to use the built-in windows Stereo-Mix recording "device" as your "mic" in skype. It's not really a "device", just the mixer built into windows and your soundcard. It should mix your webcam's mic in w/ the line-in from the soundcard. Then you can play your bass into line-in(you may need to run it through your zoom).

I have an usb interface but apparently Skype won't let me select its input

That's a bummer... Do you have audacity? Does it let you select the interface?
And what about the stereo mixer?

I'm using a Logitech cordless head set. If I have a mike then the person gets some weird feedback when I start playing guitar. I also have a problem with the Bass. The low end doesn't transfer well across skype. I generally use my guitar amplifier, since it has more of a high end.