Radio Control Boats

Traxxas U-joint tool You can't buy this, but is simple to make from metal flat stock or even an old style can opener. See Drive Components for instructions on how to use it.
Utility Knife Nothing special cost is about $1, have a couple extra with different type blades.
Flexible Ruler This one is 18" and made of Stainless Steel and Should Last a Lifetime. about $8
Precision Razor Saw Great tool to have and a must for wood projects. $9 I have a couple of these, one I use for cutting brass tube
Scissors $3 Keep one in your tool box
Metal files $11 Shaping, deburring and stock removal from metal, plastic, wood and like materials. A square, round, three square, halfround, knife and flat files.
Allen Wrench Set $3 Better get metric and standard, you will only need the smaller sizes and have a couple of sets, these grow legs and walk away.
Screwdrivers $3-6 Standard Slot Head & Phillip Heads in varying sizes. I picked up a set at a local hardware store, long and thin, great for working in tight areas.
Pliers & wire cutters $5 ea. Needle noses in different shapes help a lot, a wire striper is one of the most used tools, I am always repairing wires at the last minute.
Soldering Iron $5-12 I use a 40 watt iron, before I do a solder job I clean the tip with a file or sandpaper, I will even stop and clean during a job, the cleaner the tip, the easier the solder will melt. A good solder job is when it looks like the wire absorbs the solder, if you don't see it, then it is not hot enough.
Solder $1.50 - $4 I use the very thin .031 dia. rosin core solder, also good to have is Silver Solder with Flux $6 This will hold to almost anything metal
Assortment of heat shrink tubing $5 For insulating electrical splices, and also covering electrical plugs and connectors. The tubing can be shrunk by way of a heat gun, butane lighter, or a soldering iron A Zippo works best, these will make it look professional and will not come loose when it gets wet.
Drill Cordless or corded and a set of small drill bits
Nuts, bolts & Screws I buy what I can from the hardware store first, it's not rocket science to know that a hobby shop jacks the price on anything associated with a hobby. I buy stainless steel or zinc coated first, brass then hardened if I can't get it in S.S.
When you scratch build like I do, you will use anything that will do the job, I have used RC car and airplane parts, wires and lights from an old computer for the radio equipment, CD cases and plastic pop bottles for windshields.