One of the best segments I have seen on a talk show was how to use furniture to exercise. Couches, chairs and other furniture can serve as platforms to do sit ups and push ups. So, you can skip buying equipment because your furniture serves a dual purpose.
First that I do is I try to make exercise equipment around the things readily available at home. And if I really can't and that I am not sure of what I am doing for safety concerns, then I buy the equipment during the sale season, so I get it at a discounted price.
You can use chairs, tables and counters for a lot of exercises, but there are also some exercises you just can't do without the equipment. I'm 196cm so there's no way for me to do pull-ups inside my house. I'd either have to go outside and do them on a tree or something really high or I could buy a pull-up-bar for my garage.
I like to improvise whatever I can to use as exercise equipment. Going to the playground early in the morning when there are no children there is also a good place to get some exercise, like pull-ups and the monkey bars. Also, check out the free section on craigslist. A lot of times, people give away old exercise equipment that they don't use anymore, especially if they are in the process of moving. You can also post in the Wanted section there saying that you are looking for free or cheap equipment, and you would be surprised at all of the responses you will get. Exercise equipment is one of those things that people buy and then regret, because they never use it.