Aircraft Mechanic, make ~20 an hour working for the Air Force with full benefits. I pay for my toys with my paycheck and overtime (1.5 x regular pay) when I get drafted. I do live with my parents, but I'm only 22 and been out of college for only about a year. I bought and paid for my 99 in about 2.5 years working co-op (6 months school, 6 months work) and have great credit from it. It allowed me to finance my Motorcycle, and a storage shed without a co-signer. Shed will be paid off in about 2 months, and will start paying close to triple on the bike to get it paid off quickly and avoid a lot of interest. The living situation is soon to be remedied (hopefully), I'm planning to buy about 5 acres sometime in 2008. When I buy that I'll be living with the folks for about another year while I'm paying on the property, then I'll start building or possibly get a trailer since it'll just be me.
As for tools and stuff to do the work on the vehicles, that's what family and friends are for. Dad is a 30+ year mechanic working on everything from lawnmowers to diesel trucks, and another relative is allowing me to use her 8 bay garage to work on the engine and suspension stuff.
It also helps to remember that not everything has to be done at once. Do engine, then later do suspension, then maybe body, then suspension again sometime down the road, and possibly interior someday it just doesn't all have to be done at once. Like now I'm doing engine and suspension, In a few months I'll probably get my seat recovered, a little later probably change out gears in the rear. Someday I'm going to detail the engine compartment, and eventually get the body and interior done. Most important for me is to get it running right, hence going for engine, and wanna do the suspension to compliment the engine (and cause it's never had sway bars), I don't care if someone thinks the truck looks like shit cause it's the tail lights they'll be looking at, and I'll be having a big grin on my face from being able to row the gears again..