Different people's bodies respond differently to cold.
My torso overheats easily.
My extremeties, meaning my hands, arms, feet, knees and face/head get very cold.
For below zero days I wear Lobster gloves.
Buy Lobster gloves in the spring for less than half their normal price, and get them larger than normal.
If you can't afford Lobster gloves, buy cheap ski-type gloves but get them too large so you can layer some cheap cotton or wool gloves inside them.
I wear arm warmers and 2 layers of short sleeve t-shirts with a light, loose jersey over all.
This lets my armpits dump heat while keeping my arms warm.
If you can't afford dedicated cold weather bike shoes, buy cheap mountain bike shoes several sizes too large so you can layer socks without the shoes feeling tight.
For my face, I wear a short beard and, in winter, I wear over-the-glasses goggles made by Global Vision:
http://www.activesportsunglasses.com/gv-bigben.html
The foam around the eyepieces keeps my nose and cheekbones warm.
On the absolutely bitterest cold days, when I need to wear tights, I wear them under my Dockers shorts and I choose tights that have a wind proof, water repellent front and a breathable back.
Jenson usually has something cheap that has a windproof front and a breathable back.
Don't get bibs.
Again, for gloves and shoes, get them too big so that you can layer without compressing any of the insulation.
IMHO, cheap and loose keeps a rider warmer than does expensive and tight.