Buy ergo grips. You will love them.
Want to save money on gloves and don't care about image, go to your local Harbor Freight, spend $11 on utility work gloves and you are in business. These are some of the best bike gloves I have ever owned.
Egg beaters are the best. You will always come out of your pedals when you want to and never when you don't. They are one of the only pedal/cleat combinations that work great in muddy conditions.
CO2 cartridge pumps are light, small and convenient. You can carry one in your saddle bag. The only downside is that you will be paying about three dollars per inflated tire. It is worth it to avoid a lot of time pumping. You are out there to ride, not to have a zen moment with rubber, air and moving a piston with your arm 150 times.
Bandanas are great. Used as a helmet liner, they delay sweat flow to your face. They can be used to clean stanchion tubes after a ride, and can be used if you forget tp, and oh, are they stylish depending on the age of the rider.
Tech fiber clothing gets perma-stink after a while. Sweat stink molecules and bacteria are able to hide in the tight fiber of the tech fabric. Soap and hot water don't have a chance. People have suggested and I have tried about everything from borax to peroxide to freezing my clothing. Bleach works best for me. Every 10 rides or so, it helps to bleach your clothing. It makes clothing fade faster, but you are not trying to win a fashion show anyway...unless you are a roadie.
Don't spend money on stuff that does not have a clear advantage. A $75 pair of bike shoes will do everything a $300 pair of shoes will do. Comfort is one of the only considerations.
That goes for helmets too. The difference between a $25 Walmart helmet and a $250 is ventilation, sometimes comfort and style. The safety is about equal. If you don't mind sporting the Bell or Schwinn label, save your money.
If you have any equipment tips, please leave a note below. I will include them in 1.2