Here is my 2 cents for starting cheap and fishing on a budget. For a rod reel combo I would go with an ugly stick spinning rod, with a 30ish buck reel. You can't beat an ugly for the price, well built serviceable rods that last, I still use one 4-5 times a week. Have tried other cheaper rods, and most broke very quickly. As for the cheaper spinning reels, many have lasted years for me, and while the drags aren't perfect, they handle the bass that I have caught. For line I use fireline, which will last ya at least a couple of years.
As for baits, I would start with 4-5" single tail grubs and some weedless jig heads. If you can find kalins grubs go with them, otherwise Zoom and BPS are good too. Cranks, I would start with something like the bandit 100-300 series depending on the depths you fish. You could throw in some tubes and a worm or two.
The most important thing is think long term, I have been a budget fisherman most of my life, but through sales and just time passing, I have a good enough selection of baits and rods that I don't feel limited on the water.
Good luck