After you have chosen the perfect table saw for your wood shop, the next major purchase one should consider would be a compound miter saw. While not as expensive as a quality table saw, a compound miter saw is invaluable for cutting compound angles (beveled, mitered and combination cuts) on the ends of a piece of stock. Once you develop your ability to make precise cuts with a compound miter saw, you'll find that your circular saw spends a little more time in the drawer than it used to.

Hand tools offer your best chance of finding a real bargain. Until the early 20th century, nearly all woodworking was done with hand tools, and their designs and uses have changed little. Most of the high-end planes on today’s market, for example, are just reproductions of the original designs. And because the originals were mass-produced, they are fairly easy to find at rummage sales and antiques stores. (For more information, refer to Matthew Teague’s article, “Buying Old Tools,” in FWW #180).
For those who want to make money from their woodworking skills, David Piccuito's channel Make Something is a great place to start. He encourages woodworkers to use his designs for selling to clients as long as he gets credit for the design. Make Something has tutorials for making things at any skill level, from beginner to expert. It is filled with woodworking hacks on things like how to make curved inlays and how to drill really large holes—even those holes that are larger than your largest bit.

Thanks for the feedback. We’re glad you found the list helpful. Please note that this page contains only 10 of the 40 top tools for woodworking, displaying only hand tools. You can find the next 10 here: https://www.wagnermeters.com/top-40-woodworking-tools-2/. There are links at the bottom of each article to the next group of tools so you can view the entire list. Hope this helps.
I can't really give a great answer to your question - I'm still learning how to deal with woodworking on a limited budget myself, but I'm getting there. It's not always easy, but when I want something I can't afford, I am starting to remind myself more and more that someday my day will come when hopefully there will be more room in the budget for my woodworking hobby. I'm also hoping to start selling the occasional item within the next year to help bring in some extra money for woodworking related expenses.
Just like a hammer and tape measure, a drill is something a lot of people already keep on hand for small household projects. Danny and I started out on a SUPER cheap drill when we first got married and quickly learned that this was not something to cheap out on.  If you plan to do much woodworking, invest in a quality drill.  It doesn’t have to be the best of the best, but do at least get a mid-grade drill.

If you'd like to learn more about the differences between hardwood species, I can think of no better resource than R. Bruce Hoadley's 1980 masterpiece, Understanding Wood: A Craftsman's Guide to Wood Technology. Not only does Hoadley detail nearly every species used for woodworking, he does an exceptional job at describing how to prepare, work with and finish these hardwoods. This is an industry-standard resource, one that I'd highly recommend to every woodworker.
Any serious woodworker knows that square and flat Any serious woodworker knows that square and flat stock is the key to producing fine work so it’s time to skip the hand tools and graduate to the JJ-6HHDX 6 in. long bed jointer. This beast boasts a helical insert cutter head with staggered carbide inserts yet runs quietly and ...  More + Product Details Close
Just how small?  Will you have an extra bedroom for your shop or will you be doing woodworking in your living room?  Do you have to put the projects and tools away every time you want to entertain or will you leave everything set up all the time?  A while back FWW had a video tour of a shop in Japan that was smaller than small.  I'll try to find it and get back.  Found it...  shows what can be done in a small space but this shop was not on a small budget so no help there.
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