[Cruisin Marine]

If I could go back in time, and if I then had the money, I would have bought the best I could all down the line.
Tools last on the premise "You get what you pay for" Buy rubbish you keep replacing it. I avoid all Chinese stuff, it is generally a waste of time and money, pay cheap buy thrice or more.
I look out for old British tools or quality from USA and Europe.
For example: One pair of Lindstrom cutters will outlast the lifespan of a busy workshop if looked after. I know this first hand.

As for starters test eqpt, An avo 8 is nice of course, but a small DVM will get you going cheaply, variable power supplies, a 20 MHz plus scope, a signal injector, a simple diode probe, a decent soldering iron is a must, a logic probe if that is what you are working on, a solder sucker will suffice for most jobs. Later you can specialise.

I must warn you, it is never ending, and I mean NEVER- you will always need some gear you haven't yet got. Good luck.