Jillaine,
Keep your eye out for quilting as part of Estate Sales, where you can find great bargins on quilting books, tools, fabric, etc. Watch Craig's list for the same, and the summer yard sales can be a great place to find treasures.
I just went to an estate sale in Hudson NH, and got three self healing rotary mats for $5 each, a plastic 3 drawer unit on wheels for $3, two rotary cutters, $1 each, several books (value $13.95 to $29.99) for $2-$3 each, about 15 yards of quality fabric for $8, and I lost out on all the rulers that were there, and I passed on several books because of the lack of cash I had on hand.
Many of us buy rotary cutting blades from Harbor Freight. They are the round carpet cutter blades and they run 2/$1.99 which is a huge savings.
I use eyebrow razors rather than a seam ripper. There are three to a package for $1 at the dollar store.
For starters, you should have
a self healing rotary mat (expensive, but worth it, lasts forever)
rotary cutter
6x24 ruler with a 45º and a 60º marking
pins
The right scissors for your application.
Watch for sales at Joann's or use their coupons to get great deals on things like rulers, notions, fabrics, books, etc.