Originally Posted by Kaze6

I agree in principle, but disagree with the blunt statement.

Go to Sears (or their website) and price basic Craftsman tools, then go to swap meets, yard sales, craigslist, etc to see if you can save some money. Don't spend a lot, until you know that working on stuff is something that you want to do. Don't buy "tool-truck" stuff like Snap-On or Matco, unless you're getting it for Craftsman prices. There are a number of good tool companies out there, but I've pretty much standardized on Craftsman because it's cost effective.

For bicycle-specific tools, Park Tool is the gold standard, but not the only quality tools out there. But do you really need pro-quality tools for the amount of bike work you will do? If so, don't buy everything in the catalog -- just get what you need to do what you plan. Go to the LBS and talk to the tech who's been doing this the longest, and you will discover that over half of the tools on the rack rarely come OFF the rack.

If you plan on working on bikes for the next 20 or 30 years, find a pro-level Park bike stand (forget the consumer-grade ones), preferably on the used market. I've found these as low as $50.

You do NOT need to buy a truing stand -- you RIDE one. Eyeballing the rim as it turns is enough for nearly every truing job that you will do. If you want absolute precision, after the eyeball alignment take a 3x5 index card, and cut one corner into a notch. With a big spring clip, attach this to the frame, with the rim of the rim just touching the inside of the notch. True the spokes until you can turn the entire wheel and the sound doesn't change.

Working on bikes isn't rocket science. There are certain details which the folks here can help you understand, but don't be afraid to take things apart and see how they work.