Hi,
I'm 19, no kids, doing a Marine Science degree at University. With regards to tank equipment and what not, affording it on a student budget can be difficult at times. I get things in a few ways:
1. I stocked up on tank equipment before I started Uni so that I wouldn't have to buy it as I studied. And buy the best equipment the first time so you'll never have to replace or repair it.
2. Collect livestock and buy coral frags from other hobbyists rather than pieces from LFS or where ever.
3. Read and Read ond only keep animals with the highest rate of survivial in your system. Apart from the obvious death of the animals which isn't good it is also not good financially.
I also get as much stuff as I can through Uni, the LFS I work at, other people who work at LFS, etc. For example, I got 2x400-watt Metal Halides, reflector, ballast, bulb, everything $550 Australian (about $300 US). In a shop, I would have paid that much just for 1x150-watt.
Regards,
Tom