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Being able to assess whether if a job is worth investing in a tool or hiring a contractor to do it is good too.
I hired a handyman for $50 to cut a big tabletop in half longways when I could have just bought the same tool for the same price.
In some places there are even things called 'Tool Libraries' where you can rent out whatever kind of tool you'd need for a job. Which can save even more over just buying it.
Though if you wanted a perfectly straight cut, there are specialized tools for doing just that which cost quite a lot more than just $50.
The contrast to this is knowing how to use the tool well and the difference between a $50 and $500 tool. Sometimes the cheapest version of a tool wielded badly is a lot more expensive than a pro with the high end version. Not to mention filling up a garage with things used only once years ago!