The key I believe in saving pennies is to find versatile items that can go either way, day or night, budget or ideal. I suppose the truly ideal situation would be having an entirely custom-tailored outfit for each of your occassions. I am on the truly budget situation.

I acquired an acrylic kilt that is woven, hemmed, and sewn in the same manner as a fully fashioned kilt, so no one knows the difference. One of the countries that is still wearing kilts and mass producing them is India, so they have some cheap items to get you by such as sporrans or jackets. It can be a risky purchase, although a good tailor can adjust it for you. As for the shoes, oxford shoes will do just fine.

I wear a pair from military school that I've shined to mirrors - only cost me two dollars. Buy colored soccer socks for both day and evening wear, cream or white hose don't really look as good as colored ones. The flashes will probably come with your kilt if you find a bargain. Or you could buy some 1" cloth ribbon from the fabric store and tie them on like the old-fashioned flashes for less than a dollar.

Another creative way to cut costs that I've seen on X Marks is to build your own full mask sporran. I would just buy a cheap leather casual sporran that they sell for 10-15 dollars plus a full raccoon, skunk, or possum hide that they sell at hunting/wildlife shows. Then apply the hide with super glue to the sporran. You could even set marble eyes and some cotton stuffing to get the full face if you wanted to do so. But I've seen a smart-looking gentleman with an eyeless raccoon sporran that looked very proper, so you certainly don't have to go that far. Then you would have a sporran for both day and evening wear.