I think the more you do with your horse the better! *cheers* for you for even thinking about it! I say do it
You could TOTALLY get away with nylon bridle and reins and a synthetic (cheaper) saddle if you are just going to be googing off! You could also do the on-line thing and pick up some tack off e-bay.
OH...... I just thought of this but they make western bridles with super cute rhinestones on them in all sorts of colors.....Weaver I believe is the brand that I saw at my local tack shop. I LOVE the one with pink sparkly jewels...my hubby didn't care for them tho!