Ariel,
Given the choice, I would recommend hooks as your first choice. The hard part is to think about what you want to tye and then what size hook you want to use. If you are focusing on tying wingless wets/soft hackle flies, I would recommend looking at the Mustad Signature R50 (sizes 12 to 16). They are nice hooks (good finish, sharp, and inexpensive). I just looked on J. Stockards and see them listed for $3.25 per pack of 25 and $5.95 per pack of 50.
(
http://www.jsflyfishing.com/cgi-bin/ite ... -Hook.html)
Stockard's currently has 20% off on the Daiichi hooks. The Model 1550 and 1530's make great hooks. The 1550's are available in a multi-pack set, which contains 10 hooks in each of 4 sizes (10, 12, 14, 16) in a re-usable 4-compartment hook box for only $7.48. If you use coupon code "2011cat5", you can save $5 off your first order.
Another hook option is from a website called Allen Fly Fishing (
http://www.allenflyfishing.com/collections/hooks). I have not used their hooks myself, but they offer hooks at very low prices. Perhaps someone on this site can chime in an advise if the hooks are of good quality.
The second choice would be either white or black thread. If you are just starting to tye, you may want to stick with a 6/0 thread, since it is a little stronger and not break as often, as you learn.
As far as dubbing is concerned, I would gladly help you out in that area. I have a bunch of different colors of wool yarns, which can be chopped up for dubbing, or used to make all kinds of yarn bodies. I would gladly send you some yarn to play with (just shoot me your mailing address in a PM). I do not ask for anything in return. Others on this site have done the same thing to help me out in the past. I am just extending the same kindness.
If you have enough money, I would strongly recommend getting an Indian Hen Saddle ($5). They make a great substitute for partridge and other game birds.
PS - If you are thinking about tying flies to save money, don't kid yourself. In all honesty, it is a very slippery slope. Once you get started, you always "need" yet another material. Your best bet is to pick a couple simple patterns you intend to fish, and get only materials you will use for those flies. Most of the best fishing flies are made with simple materials (hares ear dubbing, thread, hook, hackle, peacock herl).
PPS - Keep your eyes open for materials. You will find that most textiles can be used for tying material. I've gotten tinsel from Christmas decorations, dubbing from yarn and old fur lined glove, winging material from shower curtains, wax from old candles, thread and tools from my wife/s sewing room (please don't tell her), foam from my kids school crafts, etc. Just look around and you will be surprised what you can find.