No one asked the most important questions: what are you going to weld and why? (brackets and stuff covers a lot of ground)
There are many different welding processes, and equipment to go with them, for a good reason. Each material and purpose has a "best fit" process. If you're looking for general use manufactured items, for the lowest cost, oxy-acetylene welding and stick welding are the easiest to learn and (probably, depending a lot on where you live) the cheapest. These processes allow you to use low cost new or scrap material and will give you plenty of usability.
At the other, extreme end, of the spectrum, if you're planning on welding a variety of materials with a wide range of load requirements, you need a class (or several) and a TIG outfit, in that order.
Like most of the people who answered you, I've been welding and in general, living in various manufacturing environments, for the better part of 40 years. I took welding class in high school, learned from my grandfather on the farm and have traveled a good part of the world seeing how the rest of it does their work. You can teach yourself, if: 1) you're patient (and literate), 2) don't have the most stringent quality requirements (including life-safety) and 3) have time and money to make a lot of mistakes (they are good teaching tools, IMHO).
Lincoln Electric, Miller and Hobart all publish worthwhile information on the subject (Lincoln leads the world in low cost stellar welding publications:
New Lessons in Arc Welding,
The James F. Lincoln Foundation - Lincoln Electric Education), and just about anyone who can weld will probably teach you if you ask politely. Or pay them enough beer.
HTH