You can do it pretty cheap. I got a 5 gal round cooler for free, then upgraded to a 10 gal cooler I found at a yard sale for $3. I use a turkey fryer with a 32qt aluminum pot I bought from craigslist for $25. I built the spout and bazooka style strainer for my cooler MLT for about $20. The most expensive item I had to get was a Copper IC that I paid $50 shipped for. That's all I really need to brew my beer. Of course like any good home brewer I did not stop there. After scouring these forums I built a fermentation chamber using a $30 craigslist mini fridge and some sheet insulation. Then I found an el cheapo kegerator on CL for $100 and jumped into kegging. Finally I built a DIY stir plate using parts I had on hand and a flask and started harvesting yeast and building starters up from previous batches to save money on smack packs. I am by no means finished with this dynamic process but I have found ways to do every step on the cheap by reading hours and hours worth of priceless wisdom on this forum and scouring resources such as eBay, craigslist and the classifieds on this forum to find great deals. Good luck on your journey, you won't be disappointed.
Burn the village, then drink the beer!