The basics are to have HSS tools and learn to grind them, sharpen them and use them. That will save you a lot of money on the long run.

That's what a friend told me, and i am where you are,just learning the lathe on a small model makers one.

My lathe came with a lot of tools. I have a set like the first one you show and use it for all, especially when i am in doubt about the which HSS tool to use. Though i have one favourite HSS and tend to use it for all and regrind it to my liking for the case.


I think you should first concentrate on the tool post, the commodity of it and eventual upgrade, if needed, cause it will decide what size and type of tools would fit in, especially the boring bars.