Mr. Telander makes a good point about Craigslist. I wish I would’ve looked more at that site when I first got into it; you can usually find things on there.
I was in your shoes about 5 years ago and I worked my way up, building my arsenal with about one big purchase a year. The first thing I got was an auger. There are a lot of things you’ll want over the years but as far as I can tell being able to get into the water through a hole in the ice is pretty paramount.
If you want to save some money to use toward other gadgets I would consider getting a hand auger. I did that when I got into it and I’m just now thinking I’ll get a power auger. You can get a 6-inch hand auger for $40 or less new, or even cheaper on Craigslist. Yeah, you get a little limited with a hand auger, but until the ice gets extremely thick it’s not too bad. If I’m with people we just trade off hand drilling holes, and sometimes it’s not a bad activity just to keep warm. When I watch shows and hear the guy say “the first thing I’m gonna do on this water is drill a bunch of holes to find fish” I know I can’t do that but you can still get the job done. I live in southeast MN so by the end of the season I may run into some 18-24 inch ice but most of the year I can do it. You may hear various opinions but I know a lot of people, myself included, will tell you that there’s not many fish you won’t be able to pull through a 6-inch hole.
The next year I bought a flasher. Between the classified ads on this site as well as CL people are always selling them. I had saved some money and used some rewards points to buy a new Humminbird Ice-55 and that’s the only experience I know, but from what I’ve heard you can get previous models (in Humminbird’s case, Ice-45 or Ice-35) and it’ll still get the job done for you. I know some people might look down at me saying this but having a flasher is huge, sometimes I wonder what the hell I was ever doing without one.
One of the following years I bought a flipover shack. For me, I wanted to get out more often and not be limited to the warmer days, so I needed a shack. I kept my eye on prices and got an Eskimo Quick-Flip-1 at Fleet Farm last year for right around $200, and I actually just saw that FF has them on sale this week for that price. Otherwise I know for a fact that CL and the classified ads here have them a lot.
That’s the order and methodology I used, I’m sure it’s different for each person but I’m happy with the way I did things. I think this year I’m finally going to get an electric auger, but like I said a hand auger has been alright for me for the last 5 years.
Good luck and enjoy. I’m a pretty frugal guy so I’d say doing some research, comparing prices, and listening to guys on here will help you with the best plan.
Sorry for the long wordy response, I just have a soft spot for people in your shoes because that was me not long ago. It’s daunting with all the stuff out there and trying to figure out what you need, what you don’t need, and what you can wait on.