Does function gen take an external reference clock? Of so, the first improvement you can make is buy yourself a 44€ rubidium reference and hook that up. I can help you if the idea seems daunting, really those boxes just need a power supply and some decent heatsinking (they get hot and will draw about 2 amps during startup at about 12-15V).
The other thing that might be useful is an RF power meter with a calibrated probe and attentuator, but that won't be as cheap (maybe €250 or so?).
A good frequency counter that goes up to a Ghz or so doesn't hurt.
That aside, driving your function gen from an external reference will get you further along for generating timing signals.
I also mentioned the Tek 184 time mark generator in another thread, not as a joke. It's old, but it's really good and can probably be found cheap.
imho, calibrated and accurate timing signals are much easier and cheaper to generate than accurate level amplitude and/or power signals.
Scope calibration really does require some half-way decent gear imho, but you can still acquire it without breaking the bank.