While you have a decent starter shop, it's important to keep in mind the projects that your tools can handle.  You are going to want to focus on projects that don't require your stock to be ripped to a different dimensions than what you purchased it at.  You are currently only set up to do crosscuts with your miter saw.  So while you can turn an 8' 2x4 into two 4' 2x4s, your not going to be able to turn that same board into two 2x2s.    


Frank is an architect/woodworker who creates videos with stunning visuals that are intended to inspire you. Frank uses his top-notch filmmaking skills to fast-forward himself as he works on a project. He even uses stop motion—an animation technique that enables him to manipulate objects (such as chisels and clamps and block planes) to make it appear they are moving on their own.
2. Just the basics—I’ve used a compound miter saw, circular saw, jigsaw, band saw, router, table saw, drill, finishing sander, belt sander, Dremel, oscillating multi-tool, bar clamps, and a Shop-Vac. I haven’t used a planer, jointer, or lathe. I’ve never owned a table saw but have used a circular saw or improvised with a router for a few long cuts.
What tools are needed to start woodworking? Well, this list can vary greatly depending on your budget. The best beginner woodworking tools are subjective but can vary largely depending on how much money you are willing or able to invest to start out in woodworking. It can also vary depending on if you are wanting to start out woodworking just as a hobby or as a side-hustle business. Most of the best beginner woodworking tools on this list are either tools I own, have owned, or at least have used in the past.
I just do it. Lol. Most of my projects are for my wife so its easier to scrape money together then listen to complaints about them not getting done! Seriously though, its tough. I have two expensive hobbies......woodworking and bass fishing, latter of the two being the worst. I reserve all my side work money for the two. One thing that helps is owning our own saw mill, lumber is basically free other then time.
Carl Jacobson has created over 350 videos to overwhelm you with project ideas, some of which you can complete in less than an hour. He takes you through the entire process from preparing the wood to the sanding and finishing of the project. Carl releases a new video every Friday with a follow-up video every Monday to answer questions based on the feedback he received over the weekend.
One purchase that did work out in my favor this year was a bandsaw. I found an old, built in 1946, 14" Delta bandsaw w/ riser block in good condition for a steal at $150. I had a couple months of free spend saved up, and my wife threw in the rest of the money and considered it my birthday gift. Attached to the saw's base was an old Stanley 77 dowel maker the seller gave me with the saw since it was attached to the base when he got the saw. I was able to sell it on ebay for just shy of $300. I actually made money on that deal, and the money from the sale has allowed me to buy blades and upgrades for the bandsaw, as well as the parts and materials I need to build the router table I'm in the process of building. Was nice to get that - otherwise it would be months before I'd be able to purchase some of those things!
The best advise I can give you is to get and read the book "Hand Tool Essentials" by the staff of Popular Woodworking before buying any tools.  It is sort of an inexpensive crash course in hand tools.  Chris Schwarz's book "The Anachrist's Toolchest" is another good source of information on handtools that I found to be a fun read.  Use the internet to learn all you can about a tool before buying.  The tools you need are dictated by what you want to build.
One of the most heavily used tools in your shop will be your table saw.  It is absolutely essential for ripping stock to size, working with composite material (like plywood and MDF), and venturing into the world of wood working jigs.  Budget is a limiting factor in a $500 build, but at $150 it is hard to pass up adding this Craftsman saw to your shop - even with limited funds.  
Birch comes in two varieties: yellow and white. Yellow birch is a pale yellow-to-white wood with reddish-brown heartwood, whereas white birch has a whiter color that resembles maple. Birch is readily available and less expensive than many other hardwoods. Birch is stable and easy to work with. However, it’s hard to stain because it can get blotchy, so it is generally preferred to paint Birch.
here are thousands of wood species in the world, and hundreds of them are commonly used for woodworking. Additionally, there are dozens of "wood products" that are made from wood for construction and metal hardware designed specifically for woodworking projects. To make the wisest possible choices, you should know not only what is available to you, but how it is prepared.
A layout square, or combination square, comes in 6” and 12” sizes. Most woodworkers use the 6” model, simply because it’s easiest to carry around. Also, most of the stock you’ll use will be no bigger than 6” wide, so 12” is overkill. The layout square is a triangle that you can use to mark square cuts on stock. Once you measure the length of the cut, you line up the layout square with the edge of the board. The short side will give you a straight, square cut across the end grain. You can also measure off angles with the layout square. This helps when you’re trying to measure for a bevel on a table saw, or marking a cut for a miter saw. You can even use your layout square to determine an existing angle. Just be sure to buy one made of metal. The plastic ones are not only fragile, but they also can warp, making them pretty useless.
One of the best deals on portable power tools, including routers and sometimes planers, comes in the form of factory-reconditioned tools. These are primarily tools that have been repaired at the factory after failing quality inspections or being returned by customers. While they cannot be sold as new, they are identical to new tools in quality and appearance and usually feature the same warranty (be sure to check). Typical savings are anywhere from 15% to 30%, though you sometimes can find even bigger bargains. These tools can be found at Amazon.com and other online tool sellers. It is also possible to buy them through retail stores and, in some cases, directly from the manufacturer’s Web site.
While an electric miter saw is a convenience, it is not necessary to do good work.  A quality electric miter saw will run around $150-$200, that by itself would destroy our budget.  A hand saw with a miter box does the job just as well at a fraction of the price.  This highly rated Stanley version for ~$60 should get the job done, albeit with a bit more elbow grease.
​There are some diverging paths that you could take at this point: some may want to get a router with a router table for edge work and improved joinery capabilities, some may want to start looking at some of the interesting 3rd party jigs - two of my favorites are the DowelMax and the Kreg Pocket System, but my recommendation would be to equip yourself to buy cheap stock.

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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. 
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