Of course you will enjoy it! Don't worry about screwing it up, dive in, join the rest of us.
It is a great thing to do! Really fun, educational, interesting and very satisfying.
Reading the others comments, I think that perhaps I sounded too negative. I am not negative, I love this stuff!
The comments are right, there are ways to save money. The education alone is worth what you will spend.
I have tried to save money, and re-use. I try to stick to the rule 20% re-used stuff in a project. This is more of an environmental aesthetic thing, based upon a story my granddad told me, and I fudge it a little by allowing that to be by weight, part count, or value. Sometimes I can't get to 20% (when I assemble a kit for instance).
I WANT you to DIY! I cannot recommend it enough. It is fun, and in the last year and a half I have gone from a person that could wire a light switch, to being able to design working audio equipment that sounds good. It is very satisfying.
So to be positive.... ways you might incrementally save money:
1) Kits can be great, don't be too put off by the "not for beginners" but don't ignore it either. You should know whether you can persevere in a complex project. Also, there is a guy on this board called chunger (search for "kit" and put the name "chunger" in the "By user" field), I think he his a pro photographer, and he has done some GREAT tutorials on building various kits. Doing one that he documented would almost guarantee that you could be successful.
2) The Hakko 808 de-solderer (see below) is yet another expense but if you want to prepare to make and correct for errors in placing components, it is a lifesaver. It will make you fearless during assembly, because disassembly is easy, And if you want salvage old parts.... with a Hakko 808, to quote Jeff Steiger, "it makes de-soldering so easy you will find yourself looking for things to de-solder!"
3) The API format can save you money in the medium to long run (I may be the only one to actually have ever said that!). This is because the format means you don't have to drill and cut the case, you just need a faceplate for each module. As a result, you don't need a Drill Press (and save a couple of grand on drill press, band saw, reamers, punches, etc this saves a boatload ... unless you already have a shop (many folks do) or already want a shop (me!)). You also save on XLR connectors, because each module re-uses the ones in the rack/lunchbox. There is a format called the GroupDiy - 51X format, which is API-500, with an 18 pin instead of 15 pin connector, but lined up and spec'd so the top 15 pins are the same so you can use API cards in it. The extra 3 pins are used for a gap in the card connector so it can "usually" fit in a 500 rack plus 2 pins for +-24V power. There is a super kit for an 11 space rack (Classic API has them in the US).
4) If you are making preamps/signal chain stuff - you can get and use old parts. I have purchased several old mixers cheap for transformers, re-used cases a lot, re-used metalwork. Broadly there are three levels of quality in used transformers...( to learn about transformers read the information and papers on the jensen site) - 1) works for a demonstration (I don't use these, they have limited frequency spectrum, easy to overload, lots of loss, shielded with only a steel can if at all) 2) good quality - you can find them in some old altec and shure mixers and some sound reinforcement preamps (and other I am sure) Some of these are excellent, they tend to be easy to overload, thought not always. The well known altec plug in ones are expensive (for instance, the Altec 15095A is a really nice transformer, nicely documented online... (the 15095 is also, but it has one winding grounded which is unacceptable for certain applications) and you might as well get exactly what you want and buy a jensen or a carnhill, for a few $ more. But I have found (in old Altec automated mic mixers, and old Shure mixers) some really good transformers that could be re-used, and gotten the mixer for a song ($10 to $20 plus shipping for 4 or 6 transformers plus an output). There are other companies that made good transformer isolated signal chain processing stuff too, but the problem is Ebay... the seller usually can't tell you whether the $10 mixer they are selling works, never mind if it is transformer isolated. For Altec there are various sources online for schematics and Shure has online schematics and specs for the older mixers. I should make a list of the mixers and what I got out of them sometime, because I do have the spec's written down (turns ratio, DC resistance, winding arrangement, size). Anyway some of these transformers test as well as the Altec Plug in ones, but you need to figure out what they are on your own, and need some test gear to test them. Generally re-using transformers, you will settle for a close match to the spec you want, and the kits/cards you buy will be set up for some of the popular Jensen/Carnhill/Lundahl/Cinemag/OEP transformers, so to re-use salvage transformers, you are talking hot glue and wire tails.
5) When you order small electronic parts, you can order extra, get volume discounts, and save on shipping. I do this, but I have no patience to wait for what I want to be overnighted. After dozens of projects - I still have never been able to completely finish without some sort of parts order, so I wonder why I don't just let Mouser stock them.
There are some parts you will always need - if you are into the "signal chain" you will end up needing 1n4148 type diodes, led's, 1n400x diodes. Other than those very common parts, if money is an issue, order just what you need (you also save because you wont have to buy storage shelves, bins, to store all the parts inventory you develop)
6) Like CJ said..Some people get samples from the chip houses (nat semi, ti, etc), but I have never done this. Basically some companies provide engineering samples so you will engineer them into your next design and later they hope to sell a zillion of them.
7) And pstamler is also correct there is freeware shareware audio analysis software, even for the Mac (I am a mac user) but more for the PC.
I can suggest the following vendors without qualms
ClassicApi (Illinois) - Lots of 500 format kits, and parts, and Jeff Steiger offers great help and communication (I did a bonehead error on my kit) and advice (like getting a Hakko 808 de-solderer!). And they make a really nice preamp (several different kinds, with multiple flavours, modeled on various classic API styles, and they - (Most DO come with Schematics, mine didn't (because it was a new model) but I told Jeff and he put one up).
Jensen Transformers - Wonderful transformers, lots of kinds, really well documented, the best web site on the planet for knowledgable thorough data on transformer use (lost of example schematics, for really usable gear and modifications). Lots of basic knowledge on the site. And I have used there transformers a few times, and when I was a newbie I and called there I got the General Manager (Dave Hill) who was interested, and very helpful, very knowledgable, and made it all a pleasure). Jensen makes really great transformers, the top of the science/art. And they provide great data on their product, and great help in using it. They are worth the price for the skill of the staff and the help. (They are not cheap, they price list is on the site).
Audio Maintenance Limited
http://www.audiomaintenance.com UK based - high quality difficult to find parts, sell some kits, and some parts kits for other folks kits. The prices seems reasonable, and they communicate well, friend of DIY. Sell Carnhill trafo's also great transformers.
Mouser. - Reliable - great site - great communication - reasonable prices
Digikey. same as mouser, but the site can be clunkier - but they stock some of the more esoteric audio stuff that Mouser doesn't.
The more the merrier, really - join us.
And you will not find a better board anywhere to get free usually excellent, often fast, advice.
I have looked at the sound sculptor site, and was sort of interested, but have no experience with their kit(s).