Cheap stuff tends to work like cheap stuff, and there are very few second chances in bowhunting. its a lot more work and time spent for an opportunity. personally ive learned to spend the money and be able to trust my gear, instead of fixing of fiddling with it.
Suggestions in brackets, YMMV, others will disagree.
compound bow - 600-1000 new
rest 40-100 (whisker biskit)
sight - 100-300 (spot hogg)
stabilizer, peep, string whiskers/leeches, field points, wax - 100ish
release - 50-100
arrows - 60 - 90 per six
broadheads - 35 -70 per six
quiver - 50ish
rangefinder - 200-400
3D target - 150 -500 (reinhart) - yes this is necessary, deer don't have bulls-eyes to focus on, your mind must be used to picking a spot on an animal
this is the basic, must have list to kill something with a compound bow. And every piece above must work 100% in order for you to be successful, so that's where it is wise to spend money for quality. obviously the skies the limit when it comes to hunting gear, and a lot depends on what/where/when/personal preference etc.
welcome to the addiction