Top Gun...
okay, if we wish to make one knife , and do this on the cheap,,,then...
First you have to decide what type of steel to use?...if you go with a carbon steel like 5160 from a car leafspring?, then you may need to come up with a way to make the steel a bit thinner..and a belt sander could do that for around $100.00
However if you order some steel from a knife maker supply thingy, then all you need to do is come up with a way to cut the design of your knife out, then place the edge bevels.
Now you could just drill a bunch of drill holes in the steel around the knife design, then use a jigsaw and connect the dots....or,
if you have a power hand saw,,,like a skillsaw, then you can get one of them steel cutting blades, it will be only a few bucks$ and it will allow you to cut away all of the extra steel from your design...I use a saw blade like that to do my stock removal.one blade lasts and lasts...
The bench grinder you have now willo also allow you to do most of the early work,,,but when you are ready to place the edge on your knife, you have to decide how much work you want to do by hand,,,,you "can" use a file,,,it "will" work,,,but you have to be able to file on this blade for a long time...
I got a 1X30 inch belt sander, and it worked for me even on my bigger blades like the Bat'leth in my photo at the left.(see photo of belt sander at my website -
http://daqotahforge.tripod.com/klingonblades/id59.html )
I would have to say that the fastest and easyest way I have learned how to do stock removal is with the steel cutting blade on my power saw.
Now for another question you will need to think about,,,,a knife is more than just any chunk of pointy steel...
A true knife is a steel that has been heat-treated to take and hold a good sharp edge.
Have you thought about the heat-treating?... Some steels you may use can be Heat-treated by yourself , but other steels will need to be sent to someone else...both steels will take a few bucks to heat treat whatever way you decide.
What I have learned about making the few knives I have made so far is this:..Knife Making is actually 3 different things all lumped into one thing. First there is the Working with the steel stuff you have to learn
Then there is the Making the Handle stuff you have to learn.
Then there is the Making the Sheath stuff you have to learn...and few of the things you learn from one, will be of any use with the others....
good luck