And yes, that sound you hear is the cash register. When starting out its a very expensive hobby. Not to say I've seen a decrease in my expenditures, just not out looking for items other than meat, fuel and hooch before each competition.
Craigslist will become your daily search for things you might need and you can always cannabilize from other household things. I decided all the green all weather extension cords and splitters that were used for the christmas lights were now part of the competition supplies, no need for them to only be used once a year.
All that being said, at some point you will probably realize that you only need items X,Y and Z and cut back on your inventory. I used to take all the knives in the kitchen, then I purchased a nice set a comp class I took, now I can say I only use 3 knives.
Be sure and search for the lists on here they are a great place to start and if you get there and don't have something, don't be afraid to ask, we have all been there!
Good luck on you competition.