If you use a digital camera, it will have an automatic white point balancing function, so you needen't worry about the colour temperature of the light bulbs. If you are shooting film, without a flash, then you need a Blue (80) filter to compenstate under normal household bulbs.
Be careful about positioning the model to close to a wall, the flash causes the ugly shadow directly behind her head. Try angling the flash, and putting some tracing paper over the flash lens. This will soften the light.
If you are on a budget, you don't need more sophisticated lighting, you need daylight and a reflector. You can take quite beautiful portraits in daylight. Make sure the model isn't looking into the sun!
A good look, which is popular now in fashion photography, is to shoot with the sun directly behind the model's head (so the lens is pointing towards the sun). Get somebody to hold an A3 (297mm x 420mm) sheet of white paper (gold reflective paper looks great too) at an angle which reflects some sunlight into the models face. Angle the reflector to get some modelling on the face, if needed. Meter off of the models face (otherwise you will get a silhouette).
The results look fantastic and natural, and in my opinion, much better than flash photography. I am not a big fan of staged studio shots in front of grey backgrounds. They all look similar.
If the model is wearing heavy make-up and has black hair, you can over-exposure 2 stops which will burn the face out. You've seen the look - just eyes, mouth, nostrils.
If you have a manual aperture on your camera, shoot wide open, for a softer effect. For flattering pictures, use a telephoto lens (at least 135mm - not sure how this equates on your digital camera, maybe somebody could help?). Standard and wide focal lengths tends to give the model a big nose!
With dark black skin, underexpose a stop, otherwise their skin will look too light. Ditto if you a exposing for black hair. If you meter off black hair, under-exposure by 2 stops.