My fishing kit consists of a bamboo pole, 12' of line, a few hooks and a few floats and a few sinkers. For bait I use worms, dead flies I find in the windowsill, bits of scrap meat and occasionally some blobs of stale bread dough. The most expensive item in my fishing kit is the hook, at $1.29 for a package of a zillion various hooks. I use 12lb test for everything, I get my line for pretty much free at yard sales.

Here's how to fish.

1. Put some kind of bait on a hook. I usually cut a worm up and put that on the hook.
2. For some fish, set your float to hold the bait 6-10" below the surface - I catch bass and bluegill and crappie and sunfish this way, but I've also caught 24" carp this way.
3. For some fish, you make your bait go just above the surface. For some fish you put the bait just above the bottom of the lake/river/ocean. I have no idea what fish prefers what level, all I know is that I catch trout and bass and carp with the same rig. In the ocean, you need an actual rod and reel, as the 12' of line I use won't reach the bottom where the fish seem to be.

Then basically, you wait. that's it. fishing is about guessing where the fish are and then waiting.