Adam's Foam Board is extremely light if you remove the paper. But you sacrifice a lot of strength by removing it.
If you want super cheap, I highly recommending making the fuselage out of foam board rather than any sort of stick. Simply cut out three 2" strips of foam board and remove the paper from one, and remove the paper from one side on the other two. Then use a very thin, a minimal amount, of Gorilla Glue to laminate the three strips together. Have the paper on the outside of the fuselage to keep it's strength.
A KF step for the wings should be good enough because of how light you'll end up making the plane. It's up to you, but I think how far lighter a simple KF step would be versus a typical airfoil would be worth the sacrifice of lift.
Make sure you build in some dihedral or polyhedral. Gliders need that so you're not constantly producing drag when using ailerons to level off the plane.