I've started FS'ing a couple weeks ago using a ball I found in my garage from 6 years ago and my every day shoes. I don't have much money can you guys recommend some cheap but somewhat quality stuff. That would be great. This forum rocks!
If you're from the States, go into any Sports Authority and buy a $20-$25 ball that strikes your fancy. Don't bother to overthink it beyond aesthetics because at this stage, the quality of the ball you use makes little difference in your ability to control it.
However, to save yourself the trouble of getting a lemon, do the following: grab a pump from the shelf, inflate it until it's 10psi (pretty hard) and then spin it on the ground... if it wobbles a lot, put it back and try another until you get a reasonably balanced ball.
As for shoes, get a pair of indoor soccer shoes, something with a soft toe area (as little 'extra material' as possible... you want to feel the ball as much as possible). You can get away with a $45 pair.
If you find that you're still addicted to freestyle after a while, then upgrade to a $100 matchball and $90 shoes. Once you get really really good, you'll be perfectly happy freestyling barefoot with a stuffed Pikachu doll.