After the essentials: If down the road you can teach yourself to re-sharpen them, you will have free drill bits for life. Also, burrs, stones, sanding drums, wire wheels etc... can be found for next to nothing at the flea markets I go to. Center punches, countersinks, on and on. People get big ideas and then a lot of it winds up cast off at garage sales, flea markets and thrift stores. You can do a lot with a drill press. Nice aquirement..... I quote my best friend: "Free is for me!"