I just started bowhunting this year, and just bought all my equipment this year too. I'll list how much I spent on everything and how much it took me to get started. Keep in mind, I didn’t have anything to start with, I pretty much had to buy everything.

Bow (used Martin Cheetah) - $100 (got a deal from my brother-in-law)
Rest/sights/release - $72 (From Wal-Mart)
Quiver - $20 (Gander Mountain)
Bow Mechanic - $26 (Arrows cut, and bow setup for me with a peep site and all that jazz)
12 Browning Boss Carbon Arrows - $38 +shipping (Ordered from The Sportsman Guide)
3 Tekan broadheads - $30 (Gander Mountain)
Camo (bibs/coat/shirt) - $60 (Wal-Mart)
Sent control kit - $20 (Wal-Mart)
Field dressing kit - $14 (eBay)
Field points - $4 (Gander Mountain)

Total - $384

I pretty much got all the cheapest stuff that I could to get started. I plan on buying better equip sooner or later. Some of that stuff most people probably already have, but I didn’t. I didn’t need to buy a target yet because my brother-in-law has one and let me practice with it.