If you buy quality baskets, you can reuse them every season, so the only worry is the initial cost. After that, the rest of the supplies are going to cost very little, allowing you to create your own beautiful arrangements for substantially less than buying them premade.
You will need potting soil, but a big bag costs only a few dollars and will go a long ways. You might want to buy some type of mulch, such as moss, to help prevent moisture loss. Moisture loss is one of the biggest problems with hanging baskets, and you’d be surprised at how well a little bit of mulch will help.
Once you have your baskets and soil, you get to do the fun part – picking out the flowers to go in them. Petunias are a timeless classic. They grow big and can hang down in beautiful clumps of bright flowers, and they go well with other textures in a basket. Ornamental grasses, delicate pansies and flamboyant fuchsias are also great ideas for hanging baskets.
If you start them indoors as soon as you can get the flowers, you will have a beautiful, full basket by summer and can enjoy the beauty as well as the savings all season long.