It is actually good to use a limited palette.
2 red - I most often use a permanent rose or magenta and permanent alizarin
2 yellow - new gamboge and aureolin or lemon yellow
2 blue - cobalt or ultramarine and indigo
white - titanium white
brown - Sienna brown
I often add an orange, green, and purple plus black with acrylics
When money is real tight I use student grade acrylic paint and sometimes craft acrylics or latex paints in pint or quart cans from Lowes (I love Golden Acrylic paint and use it a lot, but it is expensive as the pigments are intense)
I work on canvas panels, mat board, Masonite (at Lowes and very inexpensive), canvas paper, foam core - I do not like stretched canvas and find these other surfaces to be less expensive.
I use brushes of different sizes and shapes, but not many as you will end up only using a handful and house painting brushes work well for larger pieces.
I use foam plates as my palettes and use them over and over until they break. I also use a bucket for water and paper towels and washcloths.