Thank you all again for your wonderful advice. It seems like I am on the right track since I have already purchased a 6 x 24 ruler, OLFA rotary cutter and self healing mat. Also, my machine is designed for quilters so it came with a 1/4 footer and extended table. I picked up a pair of fabric scissors but they are pretty large. I will definitely pick up a smaller pair along with some binding clips, pins and a seam ripper when I get a chance.
I have purchased fabric from Hobby Lobby to practice my techniques for my first project. However, I also have fabrics from my local quilt shop as well.
I am going to hold off on buying an iron. I have one that does what it needs to for the most part without leaking so I will hold off on making that investment.
Smooches to you all!