If I had the ability to just ride, ride and ride that surely would be the right answer.your excitement reminds me of how greedy and excited I get when I go to an art supply store; I am all into buying this or that new materials, for trying new techniques, new papers, new paints, new brushes, .. . etc. I just LOVE the gear and the dream.
and then, it sits and takes up space in my room. it takes me forever to actually use them, and what I really need is to just draw, draw and draw. quantity over quality, for a while.
I'm very limited in that right now - so to carry the metaphor forward I end up doing a lot of staring at galeries, researching composition and technique books, and reading art critique. In the end, it won't make my hands do what they need to do - but the hope is that it can help make my practice more informed once I get a chance to actually practice. I agree entirely that the ratio I have of practice/study right now is badly lopsided towards study. This is true even for someone like me who really likes study and tends to employ a lot of it. But the reality is that I can only increase the 'practice' side so much with the access I have, so 'study' is the option I have available to work on.
That said, in my opinion: Budget permitted there's nothing wrong with buying art supplies (or horse gear) if that's what brings you joy - even if they might sit on the shelf a bit (presuming they won't spoil). If you find you get more joy from thinking about buying art supplies than actually doing so then by all means stop at that step. But I'm of the opinion that joy is a precious thing that should be nurtured, even if nurturing it doesn't always lead to the most logical or efficient processes.
As a note: I can't actually think of a good way to indicate how much adopting that last statement as a philosophy has changed my life for the better. Am I being bit silly with all this? Definitely. But I'm also excited and enjoying it deeply. For me that's worth being a little silly.