Hi Alison! Like you, I'm starting to get interested in jewelry. I've been trying to build a wardrobe of staple pieces for a little while now, so maybe my experience will be helpful to you.
Things I wear on a daily basis or several times a week:
- a watch. Mine is by Swiss Army, cost about $400 IIRC, and has served me well. It's very classic and discreet.
- diamond studs. Mine are (I think) 1 ct.tw. and were a graduation gift so I don't know how much they cost, but Ice.com has styles starting at $85. Sure, they are small, but they are real and sparkly and if you look around, I think you'll find that a lot of women wear studs that are pretty small by "tPF" standards. These would be a great starter set.
- pearl studs. I get a lot of wear out of these, too. Pearlsonly.com has styles starting under $20.
- I also wear my pearl necklace and bracelet (not together) frequently. Try Pearlsonly for some affordable freshwater versions.
- I have silver ball studs from Tiffany's, but Bluenile.com has similar ones for less. Same for the Tiffany's graduated bead necklace.
- gold studs
Then, I added to this group with some more items:
- a couple of bracelets that are also appropriate for daily wear as well as some dressier ones
- some dangly earrings for special occasions
- small pendants for everyday
- big statement necklaces
For that second category, it's easier to mix in costume pieces. My opinion of costume jewelry is that it shouldn't try to be something it's not. I don't really go for a lot of rhinestone, fake-gold, etc. I prefer resin or wood generally. I have seen some really cute chunky necklaces at Forever 21, and HM has great earrings if you look hard enough. At this stage, I would say don't invest in costume jewelry unless it's something you really love and can see yourself wearing for a long time. Designer costume jewelry like Chanel or Dior may hold its value, but it may also be very trendy and you might not like it after a year or two. That being said, I have a Chanel pearl necklace that is 3 years old now and I wear it a lot, so you just have to pick and choose.
I would also recommend that you take it slow. Don't rush out and spend lots of money just to fill up your jewelry box because these can be expensive mistakes.
I know this is awfully long, I hope it helps. Enjoy!