One of the best excercises you can do is to start out is simply walking!! To keep me motivated while I do any excercise, I put on the old headphones and listen to my favorite music. It's guarenteed every time to keep me out there longer.

I find it easier to be motivated when I'm working toward a specific goal with a target date. Otherwise, I'm just sort of vaguely heading in a direction and maybe not progressing as quickly as I otherwise might.

Easier to find the road when you know where you want to go!

What are your goals? What do you want the exercise to accomplish? More endurance, weight loss, improved strength, weight-bearing to improve bone density, improved physical strength to better get through your day or for a recreational sports activity you want to be able to enjoy?

I agree with JLB72 that walking is a great way to get started - having more specific goals will help you determine what else you need to do to have the level of fitness you want.

I also find that when I tell everyone I know about my goals and about the target date I tend to follow through better - if for no other reason than not wanting to look foolish!

I reccomend walking daily and it helps to listen to music. Thats what I do, I listen to music on my ipod while I go walking. Also, dancing to some fun fast paced music is a good way to exercise.

You definitely don't need a gym to get in shape and lose some weight.
What you do need above all else is determination and a serious self commitment. Saying the words I really need to lose some weight, then exercising a couple time and not making permanent changes to diet just won't work.

We all know that exercise can get boring; try running on a treadmill for an hour without a TV in front of you or music to occupy your mind.

The trick is to find what YOU enjoy doing. What will be good for you is to find a cardio exercise you like. And walking is as good as start as any.
With walking, you can get some ankle weights or wrist weights, then pick something to listen to while you walk.
It does not have to be music; it could also be an audio book or something like that. You could even listen to comedy or anything at all. It will help you pass the time doing whatever activity you chose.
To go with your cardio, you really need to add some resistance training so you don't lose your muscle mass. Your muscle mass burns more calories so get into the weights. You don't need to buy yourself an expensive set of weights because there are plenty of exercises you can do that will give you the same results.
You can find some great sites online that will give you wonderful exercises you can do in your own home.
Just try the plans you find and stick with the ones you like.

HAVE A DOG?? TRY TAKING THE DOG FOR A WALK EVERY DAY.. I STARTED DOING THIS 2 WEEKS AGO ABOUT THE SAME TIME EACH DAY, AND NOW CHOLE COMES TO ME POKING MY ARM WITH HER NOSE, AND RUNING TO THE DOOR WHERE I KEEP HER LEASH IF I DO NOT GET READY TO GO FOR THE WALK. NOW THAT IS MOTAVATION LOL

JLB is correct. That's how I started. No special equipent other than a comfortable pair of shoes. I started walking around a year ago and have worked myself up to running approx 45 min a day. Not that you have to be a runner but just stepping out the door to walk or run makes a workout a lot easier.