In reply to RomTheBear:
For me my best cheap purchase was a baselayer set from LIDL. $5 for top and bottoms. Snug, warm, breathable and perfectly suited to going up the crag for Climbing or hurtling down the mountain on my snowboard. Much better than my expensive stuff.
Other notable purchases are:
A pair of lightweight storm pants (£12 from Costco). Flexible, durable, somewhat water repellent and fast dry as well as detatching at the knees to make shorts.
A bunch of fleese mid-layers from Decathalon (£3 each). Limited colour range but warm and lightweight. Just don't stick 'em in the tumble dryer or they'll end up two sizes smaller
This may be stretching it a bit but a pair of Quechua Velcro binding climbing shoes (under the brand name Simond these days). £22 and perfectly adequate for starting out. Not a patch on my Red Chillis but they still see regular use and still perform better than I have any right to expect for the price I paid.