I am going to assume that you are here because you are interested in learning how to make electronic projects as a hobby. If so, welcome, and thank you for checking me out. For starters, I would just like to explain that this first article is basically an intro to the topic. I will be adding several more articles to cover individual areas. There will be articles on basic electronics, using and selecting resistors, capacitors, transistors, and ICs (integrated circuits). There will also be articles on how to breadboard circuits, make your own printed circuit boards, and soldering components.
If you are brand new to electronics, I recommend doing some research. There are countless books and other web sites on the topic. Don't just look at one source. Some web sites or books offer more information than others and the different authors of these sources may explain things differently. You may read an explanation of transistor operation in one source and not understand a word of it, but reading the same information from a different source may make perfect sense to you. Also, do some searching online for other projects people have made. This may give you some encouragement when you see the endless possibilities of cool projects you can make. Even if you don't plan on making things, the knowledge is still good to have for repairing electric devices.
You should also stock your workshop with the proper tools and parts. You will need basic hand tools; screwdrivers, pliers, wire cutters, wire strippers (please don't use your teeth), tweezers, etc... You will also need a soldering iron, solder, solder wick, soldering tools, etc... Stores like Radio Shack should have everything you need. As far as parts go, that depends on what you are making. However, I do recommend that you have a good selection of resistors, capacitors, LEDs, relays, switches, battery holders, transistors, etc... Again, Radio Shack. You may also find kits online that sell a plastic box with a nice selection of various components. Think of it like baking. You need the basics in the kitchen; flour, sugar, salt, etc. When you need special ingredients according to the recipe, you go to the store and get it.
I also highly recommend that you start collecting electronic trash. You know that VCR that is obsolete and hasn't been used in 20 years, or that broken cd player, or that old TV that your neighbor just sat out by the trash: well, save all of that and in your free time, take it apart. Taking things apart is the best way to learn how to put things together. Also, by studying the printed circuit boards, you can get a good idea of how you should position and place components on boards that you will be making. Not only do these items supply you with great parts (relays, motors, switches, LEDs, capacitors, coils, resistors, pulleys, springs, gears, and miles of wire), but if something that you actually want brakes, you will have plenty of practice on how to take it apart without braking it worse (hopefully). When you salvage all of the useful bits from the junk you took apart, store it in an organizer of some sort so you can keep track of what you have. By the way, I can't remember the last time I actually bought wire. I have a pile of it from all the junk I've taken apart over the years.
So, have fun taking stuff apart, read, start small, and have fun. (And don't use your teeth to strip wires. Seriously, don't do it. Unless you like chipped teeth)