Jewelry making is a really fun hobby and potentially lucrative side business.  If you are just getting started in making beaded jewelry, you will need to purchase a few basic tools.  These tools, while not expensive, are absolutely necessary for performing even the most basic jewelry making techniques.  Depending on your budget, you can get everything you need by spending anywhere from $20 to $100.

Wire Cutters/Dykes
These tools are common and can be purchased at a generic hardware store.  I recommend either buying a brand like Craftsman with a lifetime warranty or getting cutters specifically designed for jewelry.  You will need cutters for cutting wire used in earring making, and for the string you use for bracelets and necklaces.

Round-Nose Pliers
Round-nose pliers are used for wire wrapping, for making your own headpins, and for any other application that requires manipulating wire.  Earrings require round-nose pliers for wrapping the headpin before affixing it to the earring hook or post.

Chain-Nose Pliers
Chain-nose, or needle nose pliers, are flat and tapered.  You will use these frequently for jump rings, earrings and general techniques. If you choose chain-nose pliers with a cutting area, you can also use them for cutting wire.

I suggest getting spring-loaded tools so you do not have to manually open them.  Whenever possible, buy tools specifically designed for making jewelry – they simply work better than their generic counterparts.  Although it may be tempting to opt for the least expensive tools, you will have much better results if you buy high quality jewelry making tools and keep them well-maintained.