I've got 3 tents and 3 sleeping bags. I've backpacked a good amount but more recently it has been mostly car camping. My tents are Sierra Designs, North Face and REI, my best sleeping bag is REI.
Two of my tents are long and narrow, enough room for 2 people but not much else. When using these tents you leave your boots and pack outside. My third tent is a dome tent with a hexagonal footprint. It might be rated as a 3 man tent but it is best for 2 people. Since the sides aren't parallel to your body there is a little room there to put your clothes, gear, boots, etc. This is convenient in use and also keeps your stuff out of the weather. The downside of the larger tent is that it is harder to find a large flat spot to place the tent. It is easier to find places to pitch the small 2-man tent. You also need a piece of plastic to put under the tent. You can find a piece of thick plastic painter drop cloth and cut it to match the shape of the tent.
You don't have to spend a lot of money to get a good sleeping bag. REI bags are good and at a reasonable price. You have to choose a temperature rating for your bag and some manufacturers are optimistic in that regards. We live in the south so we aren't used to severe cold. My bag that is rated for 32 degrees will keep us alive at 32 degrees but it isn't as comfortable as it could be. You also have to choose down vs. synthetic fill. Synthetic fill is much more versatile, down is better if you need to save every little bit of weight for backpacking. You also need a pad to put under the sleeping bag. The pad is more for insulation than for comfort although you can get pads that do add some padding. The thicker thermarest pads are good for this but they are too heavy for backpacking.
