From my recent experiences (hehe) you may want to learn.
Helmet, Goggles, Gloves, good boots, Forearm and elbow padding, knee pads. roost (chest) protector (covers chest, kidneys, shoulders, and back) Camelback, bark busters (mount to handlebars) decent riding pants, good socks, and I have to say, i LOVE my compression shorts and polyester jersey (dries fast, and keeps me cool and comfortable)
All of my gear has gouges, cracks, chunks, abrasions, rips, tears, splits, and holes in them. Unfortunately, much of my gear was purchased AFTER doing the same thing to my flesh and bones at least once.
To date, my gear has cost out of pocket around $1000 bucks. The injuries they prevented would have EASILY cost 10-20K in doctors bills, many months of injury, and some of the gear has saved my life (Particularly my helmet and roost/chest protector) at least once.
Don't short yourself on protection. Get the good stuff, try it on, make sure it's comfortable, the right size, functional, and apealing to you so you don't hate wearing it, you stay cool, dry and most important un-injured.
:)