I still feel that although all of those special things are great to have, if you get into cycling and don't have the money to get everything, you can still enjoy the sport.

Some cheaper solutions (and then as you realize what you really want, you can slowly add things to your gear collection) can be found.

Most important, get your safety needs first.

These are the things you should be spending your money on. Helmet, Tire pump (stand-up and one for on the bike frame), bike tool, spare tube. n.

Then the most important clothing/comforts:

Pair of padded shorts
Water bottle, cage (these are cheap! If you are just starting to ride you can probably get away with just one... once you get into longer rides you can add more)
Gloves (they DO make a difference)
Wicking shirt (despite opinions, you don't need to get a jersey outright... if you find a $6 shirt of wicking fabric, go for it!) besides, not everyone likes the fit of jerseys. I have a friend who is a great cyclist, but she trains in regular athletic shirts. Of course, the basic rule would be no cotton, as that will just hold your sweat in and you will get cold. Most of us find that we enjoy the pocket feature of jerseys the most (and the long zipper which is great for venting) so if these features interest you you can probably find something fairly cheap right now.

All those other layers you can probably put together from your current wardrobe if you are at all athletic. If it's chilly out, throw a pair of wind pants or stretchy workout pants over your shorts. Throw a rain jacket or wind jacket over your t-shirt.
I've worn fashion sunglasses when it was sunny out and I forgot my riding glasses. I also wear a ultra cheap pair of lab safety goggles for when it's overcast or low light. They may not be pretty, but they work!

It's not about fashion, it's about function, and while you can spend a ton on clothing and gear, you can also do just as well with what you've got.

Similarly, I've ridden with people who have sneakers and toe clips (those are the baskety things on the pedals) and they do passingly well.

I will say it definitely will be good for you to have some sort of pedals other than the flat pedals.

That's my opinion, take it with a grain of salt b/c I've only been riding for a year but this is what I've found having started this sport just like you.

Also, now is probably a good time to be getting cycling gear... now you can get gear for warmer weather since it is off-season. Check out discount gear sites and you should be able to get some stuff for pretty darn cheap.