You will find Here a List of Common Tools Used For Electronics DIY.
You don't absolutely need to have all of these things, but it sure helps!

Using a tool for purposes other than those for which it was designed can be just a little more difficult, or downright dangerous. Please be safe :)

• Workbench - Protect your house, have a proper work area
• Storage Unit - Put your tools and components somewhere safe
• Small Plastic Cup - Somewhere to put things temporarily. Don't leave your kit lying around.

• Safety Glasses - Protect your sense of sight
• Face mask - Protect your lungs
• Fire Extinguisher - Don't let your soldering iron start a fire you can't put out
• Fire Blanket - As above
• Soldering Smoke Absorber/Ventilator - MMmmm, Lead smoke. Mmmmm, Cancer. Mmmm, Insanity. Mmm…. I think not.

• Multimeter - For testing circuitry. RS232 connected Autoranging DMM
• Oscilloscope - For testing signals. Dual trace
• Power Supply - Regulated lab power supply
• Digital Camera - For taking snaps to share with other MIDIBoxers
• Mini Torch - Let there be light. A AA Cell MagLight in your mouth means you get perfect light

• Soldering Iron or Station with Stand- Temperature controlled
• Soldering Iron Tip Cleaner - Take care of your tools
• Solder - Good quality solder for good quality joints, 63/37 Eutectic
• Tinning Block - for taking care of soldering iron tips
• PCB Holders - Make soldering easier and cleaner
• Desoldering Braid - For removing chips from inferior boards, to insert in you MBHP ;)
• Desoldering Pump - As above

• Wire Strippers - For stripping insulation from cabling
• Pliers Set - Various Sizes and types
• Side Cutters - For trimming componenet leads
• Screwdriver Set - Various sizes
• Spanner Set - Various sizes, including shifter spanners
• Socket Set - Various sizes
• IC Puller - Little tool for pulling IC's from sockets
• IC Placer - Little tool for putting IC's in sockets, spreads even pressure over all the pins
• Claw - One of those little pens with a three-fingered claw for grabbing loose bits from where fingers can't reach
• IDC Crimping Tool - Because doing it with pliers sucks
• Electrical Tape - Too many uses to list

• Mirror - Little mirror on a telescopic shaft for peeking where your eyes can't reach
• Compressed Air Can - For cleaning stuff by blasting off dust