40 Gallon Breeder - Tank and stand - Free
Substrate - 5 bags of Flourite Red ($10 per bag)
Light - 65W compact florescent flood light (Lowes $45) - Has a light sensor on the side so I had to cover it with some black foam.
Hanging equipment/wiring - $15 wire, conduit etc about $10
Filters - Rena XP1 and Eheim 2213
Plants - Trimmings from my 75G (ludwigia arcuata x repens, ludwigia brevips, Hottonia palustris, anubias nana, Blyxa japonica, Bolbitis heudelotti, Limnophila aromatica, and Cryptocoryne wendtii)
In the future I will move more towards low light plants and maybe a few groups of stems.
Hardscape - currently there are only a few small chunks of drift wood but will get rock when I can make a trip to the rock yard.
Cycle - When I set up the tank I already had the Eheim running on my 20G long I took down and added a 1/8th of a bucket of tank sludge to the substrate before filling the tank. After a week of running the tank I had 0 ppm ammonia, 0 ppm nitrite, and 90 ppm nitrates.
Current inhabitants are a few rams horn snails. I hope to get a group of corys and probably some smaller plecos. Along with group of schooling fish.