You guys should start a MMM camp. And... I've exhausted my knowledge on this subject.
I'd be down. I've always wanted to go, but don't trust my friends that are burners...
I grew up [redacted for privacy] and am very familiar with the culture and how people stock up before they go (word of advice: don't assume you can buy camping equipment or water in the nearby towns on your way there. It can be hard to find stuff in Reno, let alone the smaller towns. Stock up at least a few weeks in advance, if not more for non-perishables).
I've never heard anyone's budgeting plans before... most people are concerned a lot more about the costumes and camp theme they will have ;) cambridgecyclist hit a good point -- most burners plan in advance for the ticket price, but not much else. Like I said, I don't trust any of my burner friends enough to go with them...
A few people mentioned self reliance, but there's also camp reliance and community. Split costs and responsibilities evenly amongst your camp. Don't assume you can get anything from other camps, but be willing to help others as you can. Bring a small gift for visitors! :)
My recommendations are to start immediately pricing everything out and plan what you can afford between now and then. How you get your gear is largely determined by where you live. If you are flying in... that's going to suck. Expect to pay a lot more for everything [near the playa]. See if someone in your camp can bring the biggest stuff and offer to buy the food and small items like sunscreen. If you are driving yourself in, start staggering your purchases and make sure it all fits in your car. You can't drive on the playa once you pitch camp, so consider your mode of transport wisely and factor it into your usable car space.
General tips:
Second hand gear is great, but test all second hand equipment for the appropriate level of water proofing and dust proofing. Plan for EVERYTHING you brig to be covered in playa dust and to get dust inside it
Every year, [stores] market more and more things toward Burners, so watch out for overpriced nonsense
Bring hella baby wipes
Use caution when taking drugs
Make your own costumes
Clothing cost is inversely proportional to sunscreen cost
I would like to travel back in time and go ten years ago