Absolute bare minimum, you can get a mold and use it to recycle any soft baits that get torn up. I'd look into a budget open pour mold, those don't require an injector so there's a little bit less cost to get started up.
If I were in your shoes, I'd get a cheap $20 microwave from a thrift store, a $5 Pyrex cup, a $40 open pour worm mold (lots of tackle making stores online have affordable open pour molds), and simply recycle your used up baits.