So my experience may go against the grain of some of the "professional" EEs on here.
I've been fiddling with electronics since about 1973 when I made a crystal set with my old man. To be honest I think he enjoyed doing it as much as I did. I was eight years old. At eleven, I wrote my first program in Algol 60 on paper tape. At twelve, I'd designed and built a digital clock out of 74 series TTL ICs. I used to tell my mum off for using the washing machine because my clock's time base ran off the mains 50Hz, so it skipped many seconds while the washing machine relays etc clicked through. That was 20 odd ICs all hand wired, and I designed the whole thing myself. When I was 13 I built my first computer, again hand wired, based on an older school friend's design. I still have it, although I doubt it works any more. At 15, I was designing my own computers. I then did a EE degree, worked in ATE (automatic test equipment) for a while, and then sold myself to the devil and did software professionally almost exclusively for 25 years.
Back in the 70s, having a scope was sheer luxury (Monty Python fans please note). The holy grail (oops) was a scope, and if really lucky it was dual trace, but the nerdgasm of the day was a scope with a dual trigger, not that I had much clue what to do with that at 12 unless I was tutored by my older peers. I didn't own a scope myself until I was in my mid-twenties. My debugging tools were a 1k ohm per volt analogue multimeter and an LED with a resistor. Plus, the nose to "smell" the heat, and the back of the finger to do a similar thing, both techniques I still use to this day.
I am absolutely certain that having the right tools, particularly a scope, back in the day it would have speeded up debugging of problems, but you can get away with an awful lot with a crappy meter and an LED, and a good degree of healthy persistence.
More recently, about 1999, I got back into RF, and was doing a lot of work on antennas at VHF and above, but particularly in the 2.4GHz band. After messing about with SWR bridges in 2000/2001 for some time I bought that 8753A VNA with a T/R test set. I'd spent some months investigating and gritting my teeth about blowing £3k on such a thing. At that time I wasn't making a living from electronics either, this was an academic pursuit. It was an eureka moment. Pretty much my understanding of impedance matching and how antennas and transmission lines work suddenly clicked into place. Yes, I knew about phase, Smith Charts, return loss etc. But I'd never had a way of applying it so directly and seeing it so interactively.
Since then, I've gone on to many other things, all with RF connections, including designing and troubleshooting several items of space hardware that are orbiting the planet right now. I rarely take those old software contracts anymore. These days I get asked to universities to teach postgraduate students. I'm still astounded at how little real applied knowledge there is out there.
Of course, the well-paid bean counters still think they are saving everyone a buck by offering crap wages to inexperienced workers and bugger all equipment. Yes, you can do an awful lot when you don't have the best test equipment, but it takes a lot of patience and analytical skills. That means time, and as any well-paid bean counter should know, time is money.