Fabric costs a lot more nowadays than when I first started, however, it is best if you can afford the highest quality of fabric that you can afford. You can shop Goodwill/Salvation Army/estate sales for good fabric that is cheap. I'd suggest that you just buy enough to make your first quilt...fabric, thread, batting/cutting mat, rotary cutter. You will learn a lot from doing that and learn what you really need...like you may not like the batting you used for your first quilt, or if you like machine quilting or hand quilting best, etc. Choose a simple pattern at first. I'd suggest Log Cabin. It's all straight cutting/quilting and not difficult piecing it.
If you get discouraged, check back here and lots of people will heip you. It was 20 years between when I first tried to make a quilt to when I actually made a quilt. My first effort was way too difficult and I got discouraged. I had no one to help me out, and that is why checking in here will encourage you to finish your project.