As for a cat, I would check your local animal shelter or humane society, some have a fee, but it generally includes getting them "fixed" and declawed as well, a big money saver in the future.
Also check your newspaper, a lot of people will give their cats away for free or check craigslist.com
When my cats were kittens, I just got their stuff from Walmart, nothing fancy.
As they got older, we added to the collection of toys or graduated them to high quality food that cost more money.
As for what you'll need just to bring them home... some food, something to put their food and water in, litter box - litter, a scoop and preferably liners for the litter pan.
Sometimes they have a starter kit with it all bundled together, but besides the cost of the cat it really shouldn't cost more than $30-40 to get set up.
In time you'll need to take the cat to the vet and get their shots or a license if it's required in your area.
I keep my cats indoors all the time so I don't have them licensed or immunized (by choice). I strongly recommend fixing them when they are old enough because the boys may spray and my girl cat was not fun when she would go into "heat".
Declawing is a personal choice. I wish I would have done it when they were kittens, but thought they should keep them in case we ever got a dog. They are too old to declaw now and they would've been fine with a dog without their front claws. My friends cat bats away they puggle all the time and he normally scares the dog away.
With a 5 year old I'd also recommend a younger cat that will tolerate a child better, plus then he'll grow up with the cat.
Good luck
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