I did my first tri 2 summers ago. I had just spent $700 on a new bike, so I wasn't going to invest a bunch more. I didn't know how to swim (with any efficiencty), so I invested in a good USAT Coach. He was telling me all these things I "needed". It was daunting. I didn't listen. I did my first race in some regular cycling shorts, and a tight fitting quick drying top. I live in an alpine area, so I had to wear a wetsuit for the swim, I rented that. I had a blast. I did two more with that same set up. After deciding that I was hooked, I purchased a tri top and tri shorts off of Ebay for $25 for both (brand new). I race in the same thing for evey race. Just make due with what you have, and if you like it as much as I think you will, then spend the $$.

Happy Training
Jen