This is a big ticket item, but worth its weight in gold. It will save so much time when it comes to simple chopping or more advanced preparations like mayonnaise. As with most things, buy quality-- it will last longer, be capable of tougher jobs, and give you less problems. To make the food processor easiest to use, leave it on the counter top instead of storing it in a cabinet.

This is another area where spending money is justified. The best pans combine different metals like aluminum or copper on the outside and stainless steel on the inside. Aluminum and copper are valued for their ability to spread heat evenly over the entire pan, and stainless steel is valued for its non-reactive qualities. Buy pans which are heavy and thick with solid handles that are well fastened to the pot. As with knives, buy the highest quality cooking pans you can afford one at a time, starting with a saute pan and a 3 qt. sauce pan. They will last forever. At some point, a stock pot (which will be especially pricey) should be considered for serious cooking.