Depends - live shows or recording, I don't really play live anymore so I'll do it for my recording setup which includes bass.
If I put my set of EMG 89s in it, I could go with my cheapest guitar (I got a great deal on it) an Ibanez rga42fm. It plays fine and while it doesn't have a whammy, I could be okay with that if I had to for sure. So that guitar was about 200 CAD and the EMGs themselves are worth a bit more, maybe 260 CAD. I'd get enough playability and variety of tones out of that guitar to be happy if it had to be the only one
For my bass I could make do with my Squier affinity bass (I think it was like 50-100 bucks used back in the day) and a set of Duncan quarter pounds which might be 150. I'd prefer EMGs if I only had one bass, but the Duncans are cheaper and I get a great sound from them. If I was playing a song I originally recorded on my 5 string I'd just tune down for that song and make it work.
The pedals I'd "need" are a boss fz-1 for guitar (mine was about 250 as it's the Waza version. But I'd be fine with the standard old one if it was cheaper) .
I'd also need a wah pedal, I use a zakk wylde but any run of the mill Dunlop crybaby would do it so maybe 100CAD.
And for bass my EH big Muff bass deluxe. So about 150 CAD for that.
If you're counting the actual recording gear I could get by with a basic PC that can run Ableton 11, you could get one just good enough for probably 300-400 CAD. I use neural plugins but since we're talking cheapest possible I could get by with an old PODHD400, maybe 100 used. I used one for years before I had a recording frontend.
Then I need Ableton itself though so that's the kicker. Technically you can pirate it so that's the cheapest way at 0. But I do own it and it was about 600 bucks. I'd "need" it for my full repertoire since I use a lot of the plugins for phaser, flanger, delay etc. and it's definitely cheaper/easier than having all those pedals. I suppose there might be free or much cheaper software I could get by with... But this is gonna be my one hard stop where I'm gonna be a dweeb about it and say , no, I "need" Ableton specifically. I have been using it for so long it's basically my main instrument.
I guess you need a way to hear it so let's toss in a basic pair of Sony headphones for another 50 bucks.
So I think we're talking cheapest way for me is about 1100 if you Pirate the software and 1700 if it's legit. I'd be able to make all my music with that rig. Guitar and bass. I'd have to use free drum samples as well but im no stranger to that.
