One of the big parts of modelling is finding innovative ways for what would normally require spending lots of money...
For example, my spray booth is really just my old science project board and a piece of cardboard set on top of the stove, where the range fan can get the air out...takes 20 seconds to setup or tear down...it's not as convenient as a real spray booth, but gets the job done. Instead of buying a circle compass cutter I just use a $1 circle template I bought from American Science & Surplus (btw GREAT store for odds and ends used in modelling) I make my own part mounters out of Q-tips and alligator clips, stuck into a ball of clay. I have a spinning jenny made out of two slabs of wood over a cheap plastic turntable I got from AS&S for 50 cents.
Those are just some examples...the only thing I've really spent money on is paint and polishing stuff...besides the kits themselves of course
Also I find that the best way to get good at modelling is to experiment for yourself. You'll never get good if you keep on following other people's directions (although they can give you ideas and guidelines), you just have to get down and dirty sometimes. Still, it's 10% inspiration and 90% perspiration, as the old saying goes...
Hope this helps
