Every Hi-Fi system is the same three links, whatever it cost. A source, where the music starts. An amplifier, the engine. And two speakers, the only parts actually making sound. A turntable brings one extra requirement: a phono stage, unless the amp or the turntable already has one hidden inside.
Spending the money
Half on speakers, thirty percent on the amp, the rest on the source. That split has survived decades of second-guessing because it works: speakers vary most in sound, and speakers plus room dominate what you hear.
New or used?
Used is where Hi-Fi value lives. Amplifiers and speakers from respected brands were built to last decades and go for a fraction of the new price. The catches: learn to inspect before buying, and remember that shipping heavy speakers isn't free. This site exists largely to help here; look up any model to see what it is and what it asks used.
A shortcut worth knowing
Active (powered) speakers build the amplifier into each cabinet. Two boxes, no separate amp, ideal for desks and small rooms. You trade away some upgrade flexibility and often get better value per euro in return.
What to skip
Expensive cables, accessories with grand claims, anything that promises room correction by magic. Buy the three links properly, wire them up, and spend what's left on music.