Usually, people in your situation would buy a second-hand low-spec box (like a pentium II), install just a basic linux system with X and a window manager and use it as a "thin client". You can attach to an X session on the other machine and let all the programs run there, so your slow pII processor would hardly be used. You could probably pick up a suitable box for less than 200 Euros.
Having said that, I've never tried it myself because I don't own enough machines *sob*.
HTH,
Samsara
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