I bought my first guitar and amp for about $250 bucks. I used that guitar and amp for two years. My rather lame band was good enough to book a lot of opening gigs for odd punk bands. I almost felt bad when I used all the money that $300 guitar and amp made me to replace the poor guy.
(P.S we literally recorded on a tape deck with the worlds worst mic. Seriously, it's officially the worlds worst mic - it's in the smithsonian now)
I guess what I'm saying is that if you really want to start a band just do it and make your first song "I play a piece of shit Peavey I found at a yard Sale."
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