Are there any good, low budget keyword research strategies? earn by blogging adsense income

I'm a rookie at SEO, and I've found that their are virtually no free tools that can be used to conduct keyword research. I've looked into some strategies (like using Adwords to simulate being in the top position), but they all seem to require a large investment up front. Is this just the nature of keyword research, or are there more cost efficient strategies? I'd love to hear your thoughts!

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