A few years ago, I was in the same boat as you Bladenoobie1. Only recently, after working for a year after graduation, was I able to afford to order some equipment to "set up shop" so to speak.
I had originally only wanted to spend $1,000 or so (Ian's estimate was right on the nose). I quickly discovered that, for me at least, I had grossly underestimated all of the smaller expenses. I wanted to start with a 2x72 after trying one at another maker's shop. The original $1,000 included the grinder, my first order of abrasives/steel and other consumable materials, a 2-brick forge, the workbench I built, a few hand tools, and that's about it. Mind you, I started with literally nothing in the way of tools. My "toolbox" consisted of a beat up old leatherman and a cordless drill. If you've got access to even the most basic tools, it will save you more than you think.
The suggestions to build your own grinder are something you should consider if you have the ability to do so. The Grizzly I bought works perfectly fine but not without a few quirks, and if you are resourceful you could build a a square wheel grinder for close to what I paid, if not a bit cheaper.
So long story short, I wanted to spend $1,000 but I'm now north of $2,000+ in my investment. I still haven't made anything I'm satisfied with, but that's definitely more operator error than lack of equipment. I've got everything I need, now I just have to learn how to use it!
Essentially, take the amount you plan on investing and then double it and you should be close!
Good luck!
