I think that advice from smallsetup is great- I agree that an EC pen (I love my Truncheon for measurements and bludgeonings) is super important. I've run hydro without it, and you just end up getting stuck doing more frequent res changes because you just don't know what the condition of the water is- and you can't record the EC your plants like most- very important for when you get past the learning and into the production phase. Ph drops are cheap, so if you are trying to save a few bucks, that's a great place to do it.

I'm not familiar with the powdered GH line- theres also a Botanicare powdered line called 'TriFlex' which is another REALLY cheap starter kit and would be comparable, but I suspect a slightly higher quality. But personally, I would definitely start out with the GH liquids for a cheap grow, or the Canna Aqua for an EASY one.

Edit: Just read you are a cheapskate. Forget hydro; go with a simple soil-based grow. Your initial investment will be much lower. Why are you set on hydro anyway? You understand that 'dro' is not in and of itself a better product...?