I wanted to give the gothic lolita style a go. Unfortunately this is pretty much all I have to work with at the moment :( But I'm going to start looking for more pieces :)

 

http://yuukie-chan.deviantart.com/#/d2xkha1

 

do i have the right idea at least?

It is cute but not quite lolita. I understand that though because you don't have any stuff bought just for lolita so let me give you a few tips what to do to maximize the potential of future outfits :)
Hair: Lolita hair doesn't need to be anything elaborate but a little bit of work can really make the outfit. Try adding some gentle wave, or curls, or if you want straight hair flat iron it so it is pin straight to give a really crisp look. Experiment and have fun. The bow is really cute, good choice!
Clothes: This actually looks more like a punk lolita look since I can see studs and zippers on your skirt. Those sorts of things usually aren't present on gothic lolita style outfits. The blouse is ok, nothing really wrong at all. Maybe you could try adding some lace to it, it would be cheap and rather easy to do. The skirt I can't really see well... But if you are unable to buy any lolita clothing I suggest going to thrift and second hand store and keep an eye out for a-line skirts. Though they won't really fit the traditional lolita shape but it'll still fit good. I am not sure if you sew but petticoats are easy to make, making your own can save you money.

You have a good start, I bet you'll create some beautiful outfits keep it up

Thank you so much for your feedback! I will definitely try to improve :)

Over all it is really cute.  The blouse and hair is really good -- I didn't see much of the skirt though but maybe less metal studs and more poof.  The theme looks very much punk loli in the making.  It does look really cute and you're in a good starting point (waaay better than me).

You look cute, but as stated previously that isn't exactly lolita. I can't really tell but it looks like you aren't wearing a petticoat, the petticoat is the most important part of the lolita ensemble (yes it is). They aren't particularily hard to make and you can easily modify skirts to fit the lolita shape. If you choose to buy a petticoat, remeber not to go cheap good petticoats start around $40.  Other than the petti issue, I think you look pretty and I like the ribbons.