Quilting is like any other hobbie. It depends on how much 'you' want to put into it. Being cheap doesn't work with quilting. You need a good quality machine, good quality fabric and good quality thread. Basics like an iron, ironing board.
A rotary cutter, rulers, and a cutting matt.
Using JoAnns coupons to purchase rotary cutters, rulers, etc. can keep costs down.
Saving to purchase good quality items is better than buying cheap products, being unhappy and discouraged with the results and having to go out and buy better quality, costs more in the long run. Better to buy good quality to start.