An assortment of chisels should be part of every workbench. Chisels are not just for wood carvers. Any woodworker will need chisels to clean out joints and saw cuts. Look for chisels made of high-alloy carbon steel or chromium-vanadium alloyed steel. Hardwood grips are best, especially if they have metal caps on them. This will keep the end of the handle from becoming malformed when you hammer on it.
I've been through many tools in that time and I rarely buy new. So many begin this hobby with a zillion tools but never use them. They wait about two years and sell. The best thing is the price but I also like the fact when she looks for my list items she finds so many other things that were future list items. I won't bore with good deal stories but I have many.
These basics are going to set you back about $180, leaving you with $320 left to work with.  We are going to be leaving behind two hand powered tools from the $250 shop and upgrading to powered alternatives.  This should lead to more consistent results, more enjoyable builds, and increased efficiency.  These are all goods things that only the biggest fans of The Woodwright's Shop would argue with.
This is the one tool in the shop that provides the greatest opportunity to save money, if you are willing to purchase a well made, light duty machine, and take lighter cuts. In the past I have used General 14" planers that can hog off seri­ous cuts all day long. The problem is that these professional units cost over $5000, and they would crush my buddy as we haul them down the stairs (note: don’t be the guy on the bot­tom). After doing a fair amount of research, I purchased the Dewalt DW735 13" thick­ness planer. The unit came with a good manual, and was in a good state of tune. It is light enough for me to carry around the shop with­out excessive grunting, so that made it very simple to install. The planer has a sig­nificant internal fan-assisted chip ejection system. The chips are catapulted out of this planer, so have your dust collector running before you run stock through it. I now have to make more cuts at a lighter cut depth, but I saved about $4500, which makes my budget happy. The planer makes clean cuts, and has two speeds. I don’t see a reason for the two speeds for my type of work, but there is a faster feed rate should you choose to use it. Knife changing is simple and quick.
I have a stable income like a said earlier, but when it comes to having extra cash to just blow on a hobby, well I was never always that fortunate.  So when I wanted a new tool or even to just purchase lumber, I would have to save up until I could purchase it.  I know that sounds like most people, but it has taken me several years to just even get the basic tools of woodworking.
First, let's dump that hand powered saw/miter box.  It gets the job done, but it takes forever.  We're still on a lean budget, but shelling out ~$110 for a 10 inch electric miter saw makes a lot of sense.  This won't be your forever saw, but it should do fine for most projects.  It can handle up to a 4x6 stock which will cover 99% of what a beginning wood worker will throw at it.  
"Woodworker's Supply, Inc. failed to properly investigate these complaints and failed to protect Ms. [Teresa] Logsdon from illegal sexual harassment, and gender discrimination in the workplace," according to the complaint filed by her attorney Wendy Owens of Casper in July. "Ultimately, Ms. Logsdon had no choice but to give notice of resignation to protect herself."
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