My advice is to put in as much money, if not more towards high quality cables and converters. Don't skimp when it comes time for and EQ, compressor, effects, etc. People spend lots of money on workstations, samplers, synths and drum machines cause they love the sounds they can get from them, yet they skimp on the most important elements of a studio. High quality rack gear is what takes you're average sounds and turns them into something fantastic! This is something that you won't know until you experience it for urself. Its like be a kid and your parents are telling you how its gonna be when ur older and the kid is like , yeah right, whatever. The kid won't understand the the grown ups were saying until the kid turns into an adult.
By all means get gear and be happy with it, and most importantly, MAKE MUSIC and have FUN. But once you know what you're doing in the studio, make sure you put just as much time, effort, and money into selecting the proper pro audio equipment.
Remember this...
Instead of getting whatever you can afford right now with the budget you have, its better to save and take longer to get the high quality gear. Might take a lot longer, but good things come to those who wait hehe