Low End Setup $

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TypePriceItem (affiliate link)DescriptionAlternatives (Not as good)
Camera - Primary
Older model or used GoPro's are still 4K cameras with HDMI out. It is an ultrawide lens with distortion but high resolution and stablized.
Light - Key
Elgato Key Light is actually an array of 80 RGBWW LEDs softened and with a nice app. You can replicate the look with just off the shelf RGBWW LEDs and a diffuser.
Light Diffuser - Key
One of the cheapest diffusers you can buy is actually your local grocery store Parchment Paper normally used for baking. Plus it is heat resistant already.
Capture Card
Still need some sort of capture card though.
Tried and true, affordable yet very high quality USB microphone avoids having to pay for an XLR audio interface.
Audio is super important so even in a low end setup, I wouldn't cheap out on this.
Earphones get out of the way unlike heavy headsets and ensure you can hear how your audio is coming out. Wired connection lets you avoid latency issues.