A lot of new hangers can be intimidated by the initial cost of getting in to being comfortable, but that's not the case. This is a quick run down of what I have acquired over the past several months on a very limited budget.
Hammock: Grand Trunk Ultralight - $20
Suspension: 9 ft DIY whoopies and 1 inch tree huggers - $15
Tarp: Eddie Bauer Expedition Outfitters 9'x9' urethane coated - $15 (used gear find!)
Bottom Insulation: 1/4" ccf pad that has 1" of eggfoam on top - $15
Top insulation - Fleece blanket - Free. Stole it from my fiance.
Pack: Older REI Traverse Tour Star 45-50 liter internal frame - $50
That's $115 and I sleep extremely comfortable. I will say, I consider that pack to be an extravagance. Before I bought that I used an older Jansport backpack that I got for $5.
I may eventually buy a WBBB and some nice down insulation, but at this point I simply don't feel the need to.
So don't be intimidated by the prices you see on a lot of popular gear! Get experience out there before you feel the need to drop some serious cash!