Step 1: Components
555 Timer - IC used to provide time delays, such as an oscillator and other applications.
Batteries - Stores chemical energy for transformation into electrical energy.
Capacitors - Used to store energy in an electric field.
LEDs - (Light-Emitting Diode) A semiconductor light source.
Resistors - Implements electrical resistance as a circuit element.
Voltage Regulator - Electrical regulator designed to automatically maintain a constant voltage throughout a circuit
Wire - Metal strands used to carry electrical current.
Breadboard/Protoboard - Used for prototyping electronic circuits.
Fuse - Provides overcurrent protection to electronic devices.
Switch - Able to break electrical circuit.
Transistor - Semiconductor used to amplify and switch electronic signals.
Step 2: Tools
Soldering Iron + Accessories - An essential tool in constructing circuits.
Zip/Cable Ties - Used for binding cables into a neat form.
Heat Shrink - provides support and insulation for wiring.
Sugru - Silicone based putty that sticks to objects for multiple purposes and cures over time.
Multimeter - Electronic measuring
Work Light - Provides useful light for working on electronics.
Craft Knife - Small, sharp knife.
Glue Gun - Strong adhesive
Multi-tool - Versatile hand tool with multiple functions.
Step 3: Useful Links
After learning the basics you can move on to more advanced electronics such as Arduino.