Noticed that... after reading and studying IM for around 9 months... i took action few months ago and i can see already the concept how stuff works live, now rinsing and repeating until i'm happy with my income (bought second site yesterday).
Also if you have money left over, you should get more different tools (widens your expertice and tools are link building tools, you get great link diversity when all links are different).
Great practise is that when you buy tool, try to earn that money back which was used in that tool, like if you buy scrapebox, go to fiverr and sell blast to cover that pricetag back.
If you want to start in IM then you should perhaps start part time with and have some other form of income coming in as the first few months could be very hard. I have been doing it for a few months for a company but I don't know half of the stuff that is going on in SEO and IM
If you are concerned about money, then why don't you go for free stuff? Guest blogging, blog commenting, article syndication, forum posting, social involvement are FREE and they work very fine if done well.
Financial-wise I started with about $2K. It really wasn't necessary. I wouldn't have needed anywhere near that had I not have been a complete noob who thought he knew everything.
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