Can you elaborate on the steps for setting up your own library path? I'm in exactly the same situation and have been putting it off because I didn't want to mess around.
If you mean for V5.x, I have a directory(folder) where I keep all my design stuff, completely separate from KiCad installation directory. In this I have folders for each rev of a project (schematic, PCB, and related files). I also have a personal library folder there, and that contains three more folders: 3D, footprints, and symbols. I started out by opening up the default KiCad libraries and saving what I was using from that in my personal libraries. From this point on any design uses parts from my personal library, and when I need a new part I build it myself (I prefer my own schematic symbols to what I usually find through SnapEDA or UltraLibrarian. I do grab the 3D file (if available) from those sources, or elsewhere, I still haven't learned how to do my own 3D models.
I set up the path in the schematic-capture using "Preferences / Configure Paths" and "Preferences / Manage Symbol Libraries"
In PCB layout it's "Preferences / Manage Footprint Libraries"
There may be more to it than that, I just sort of tried stuff until it worked. Somewhere along the line I removed the paths to the default libraries so I didn't have to scroll through those every time I wanted to place a component.