Everyone here has given you great advice already. I started quilting about 10 years ago. I came from a garment/home dec sewing background so the sewing part was easy. I already had a machine so that was easy. Wasn't an expensive machine at all. You can look on craigslist in your area and find a good used one for a very reasonable price if you can be a little patient.
A friend of mine was a quilter which is what got me interested initially. I spent time at my local library looking at instruction and pattern books. Also watched Simply Quilts with Alex Anderson on HGTV at the time - great instructions. Check your local listings to see if there are any quilting programs in your area - usually the PBS channels.
After looking at different patterns/fabrics I quickly realized I prefer traditional patterns with more contemporary fabrics. My first project was a table runner that I made marking the back of the fabric and cutting with scissors. After all, people eons ago did not have all these rotary cutters, rulers, mats, etc. and they did beautiful work. After that table runner and deciding I liked the process and the result I bought a mat, rotary cutter and a couple of rulers. Wait for coupons/sales at Joanns or Michaels if they are in your area.
I typically machine piece and hand quilt my projects because I like to do hand work. I have also hand pieced and machine quilted. Like the hand piecing for portability and really don't care for machine quilting but it does have it's place in life. It's just not something that I enjoy but I admire alot of the quilts that are machine quilted.
Check out garage/yard sales and thrift shops for fabrics - they can be a great resource for fabric and tools alike.
This craft does not have to be expensive. Online resources, especially here, can be tremendously helpful. And your local library is also a great resource. You can check many books to see what you may want as a definite resourcse before you spend tons of $$.
Quilting can be very theraputic - it makes you concentrate on what you are doing and takes your mind off anything else that may be worrying you, at least for a bit. Gives you time to breathe. Enjoy the process.