What equipment does a beginner YouTuber actually need?

Do you really need an expensive camera to start YouTube? A beginner could easily spend hundreds or thousands of dollars before uploading a single video. Creators who have already been through this: what equipment actually mattered? Phone or camera? Microphone? Lighting? Tripod? Editing software? And what did you buy that turned out NOT to be necessary? Let's help beginners spend money on things that genuinely improve their content.