I’ll start with my example, which is probably way to detailed!
I started a new 120 Gallon mixed reef tank approximately 1 year ago, with basically no equipment or livestock on hand. I would say I have mostly high end equipment with lots of automation, although I wouldn’t mind a ATI T5/ Kessil lighting upgrade
A build thread can be seen here
https://www.reef2reef.com/threads/dbrs-120g-mixed-reef-automation-heavy.251782/#post-2994060
My best money saving advice, do some DIY, buy a lot of livestock from other hobbyist, buy high end used equipment, and buy energy efficient for equipment that is on 24/7 (i.e. pumps).
The one thing I wish I had spent more on is the tank itself- they are not that expensive new, it is the most visible piece of equipment, and it is really hard to change out.
Approx. yearly maintenance cost:
RO and DI Refills- $50/year
T5 Bulbs - $120/year
Salt - $150/year
Carbon/GFO - $40/year
Testing refills - $20/year
Food - $150/year
Calc/Alk/Mag - $10/year
electricity - $200/year
water - $40/year
Total: $780 per year
And here is what I spent after 1 year of setting up and running (minus electricity and water): $1641
Here is what I currently have, at an approximate, very conservative value of $3000 if parted out
Equipment:
40b Sump and filter, ro system, water change system, bins, 3 aqueon pro heaters, isolation tank+ lights +skimmer, em200 skimmer, test kits, dosing pump, dual reactor, return pump, 6 bulb T5 lights, tank and stand, live rock, apex gold, pm2, eb8, eb8, tunze 6105+6205, power compact light+120g, 4 bulb t5, milwaukee salinity, eb8, eb4, hanna ulf checker, breakout box, autofeeder, 2 eheim jager 250 w heaters, alk checker, stir plate, red sea test kit
fish/ CUC:
4 anthia, hippo tang, shrimp+ cleaners, dottyback, yellow tang, flame angel, butterfly, 1 clowns, damsel, trochus snails, hermit crabs, leopard wrasse.
Coral/invertabrates:
Hammer, hammer, anemone, Duncan, Duncan, lemon lime torch, favia, elegance, frogspawn, blue cap, gorgonian, orange ricordia, blue incrusting thing, hammer , peach digitate, hammer, Duncan, cali tort, dragons breath, micro gonio, clean-up crew, pot coral, Purple acro Formosa, Garf purple bonsai, Red planet, Green slimmer, Blue hydno, Orange sunset, Mystic sunset, Rainbow monti, Sideshow bob octospawn , Yellow hammer, Green hammer, Duncan, Various zoas, todds torch, large clam, cup coral, encrusting thing, unknown acros.