The reason I put this up is to have a clear view on how much would it cost to build a Gunpla according to my experience. Since last year, I think I've spent quite a lot of money to get the necessary materials, i.e. color, sand paper, surface primer (Japanese call it surfacer), and some tools.
First, when dealing with a model kit, tools are required to work on the kit. The tools and materials which I deemed would be a necessity is as follow.
1. Modeling Cutter (Price: RM 30 - RM 110)
This is at least the necessary equipment. The usage is to cut the parts of a model kit from the runners. I used a Tamiya cutter that cost me RM99. There are some cheaper one that can be found on the Internet or in Kuala Lumpur, which cost below RM50. Note that the cutter that can be bought from hardware shop is not suitable for modeling because unlike the modeling cutter, it doesn't has a flat cutting surface.
2. Design Knife (Price: below RM 50)
Design knife is basically an art tool that it's a knife that holds like a pen. I use it to scribe out parting line on a part, deepening the panel line, cutting decal sheet, and all other tasks related to cutting. It is a handy tool that has to be handled extra careful because this tool is very sharp. I cut my left index finger before, which is not very pleasant.
3. Sand Paper (Grid 400, 600, 1000, Price: Starting at RM 10)
Sand paper is necessary because it helps to sand down the surface, esp. the section where the remaining of the gate is (section connecting to a runner) to give a smooth surface. There are different grid of sand paper, and the higher the number, the finer the sand paper would be. Grid 400 and 600 are the one that usually used to sand the surface. I personally prefer grid 400 'coz it's just right. I did notice that most of the Japanese modeler that I could find on YouTube for a Gunpla would use grid 600.
4. Cement - (Price: Starting at RM20)
I still remember that a bottle of Tamiya costs only RM15, but with the Yen going up, that day is long gone. The usage of a cement is to glue 2 plastic parts together. Unlike Super Glue, what a cement does is that it would melt the surface of the plastic, and when the 2 plastic parts are glued together, the excess of the plastic would bulge out. With some sanding work after the it dries, the parting line at the joint where the cement is applied would be gone and looks like one part (only to parts without uneven surface). Note that there are several types of cement, and I happen to have a normal one and a fluid type. Unlike the normal type, the fluid type normally applied after the parts are joint together or barely joint together because it can flow into the tiny gap.
5. Putty - (Price: Starting at RM 15)
Putty is used to cover up pot and visible parting lines between 2 joint parts. It is very useful but very hard to master the usage. There are different types of putty, such as the normal putty, epoxy putty, polyester putty, and the latest that I found out is a super glue like quick dry putty. The normal putty i.e. comes in a tube form, which it has to be thinned with thinner (not from the hardware shop) in order to have it liquidized before applying to the target surface. Once a putty is hardened (any type), sanding need to be done in order to get a smooth surface.
Conclusion
It may not necessarily that one must have all the above, but at least this could serve as a point of reference on where to start. I recall that I spent about RM200 plus just to get the above, which apart from the paper and the putty, the rest still last until now. Cutter is really a necessity because it really fasten up the process. I recall that when I don't have the money to buy the stuff, I have to use a craft knife instead, which is painful. I did try to use a cutter from the normal hardware shop, but the result is either the part surface is damaged or covered with rust and oil since those cutter has to be covered with oil to avoid corrosion.