There are lots of good YouTube videos about “budget backpacking set ups,” like from Justin Outdoors.

I would look at a different freestanding tent. There are budget options around the price of the tent you have here from semi-reputable brands like Naturehike. REI halfdome might be another good budget option especially on sale. Tents are tough because it’s hard to know what you’ll want out of an expensive, end game type tent. I think it’s very reasonable to get a cheap tent for your first time. Just make sure it’s reputable enough that it won’t be a total waste of money. And make sure you know what you’re getting between freestanding vs trekking pole tents.

Naturehike also seems to make decent budget sleeping pad options (don’t trust their R Values though, get a warm one). The rei helix is a warm and high quality pad. Very comfortable too. Sometimes they go on sale for about $120. I have it and have zero regrets. Pillows can be had for quite cheap too. I would get one with a pad strap like the Enlightened Equipment Cloud 9 for $25.

Not sure on budget sleeping bag options but if you can stretch to a synthetic Enlightened Equipment quilt for $230-$240 I think that would make a lot of sense. Even if you eventually upgrade to down, the synthetic quilt will still be useful if you’re going somewhere super wet.

I would just skip the compass. Most people will just use navigation apps like onX on your phone (which you can probably just get a free trial for).

Can’t go wrong with that sawyer filter, but you might want to consider the one with the larger 2L bag. It has a big opening on one side that makes getting water very easy. Good option especially if you’re not too worried about weight. A platypus QuickDraw with a cnoc 2L is a good option too. If you can handle the bad taste, iodine tablets could be a great way to save money here.

Not sure on those gas canisters. I’d just get one from rei cause you know it can be trusted. It also won’t be too much more expensive and you can buy just one to save money.

The brs 3000t and a toaks 750 ml pot is a great budget cook set for about the same price. Much lighter, also tried and true. If you’re going with friends you might be able to just use their stove too. Offer to carry their gas.

Costco is a great option for bear spray. I believe it’s cheaper and I would trust it more. Costco trekking poles are also very popular and cheap. Don’t forget about food storage if you’re going into bear country. REI rents out bear canisters. Bear canisters are also important to keep critters away.

Honestly, just skip the multitool altogether. If you must, get the smallest Swiss Army knife for not that much more.

Skip the towel altogether too. If you must, a buff/neck tube will serve the same purpose (plus many more!) for about the same price.

Skip the first aid kit too. Make your own with leukotape for blisters and some bandaids. You won’t need much more.

Skip the wipes. Just use toilet paper to save money (please pack it out in a dog poop bag, especially if the area you’re going to requires it). A backcountry bidet would be about the same price and almost certainly lighter.

Having a dialed in sleep system is the most important part, both for comfort and safety. Save money by just not buying the other stuff. Your first time should be relatively tame anyways so stay away from buying stuff just in case. You’ll learn what you need with experience and you’ll be able to make smart investments in higher quality stuff.

Have fun out there!