The following is a list of the tools I use:

Paints: I paint with enamels.  Floquil is my paint of choice, but as that line has grown smaller over the years (their military line is long gone; when I began that line was huge and a bottle of paint cost fifty cents), I have come to use Model Masters as well. 
Brushes: My brushes range from the Rolls Royce of brushes, Winsor & Newton Series 7, #1 to the cheapest brushes I can find for drybrushing.
Putty: Depending on the nature/size of a project, I used yellow-gray Milliput (the red and white box) or Squadron Green Putty for building, filling, and repair.
Sheet/Strip Plastic:  Unlike most of the building projects, I see online and in magazines, I use sheet and strip plastic by Evergreen Scale Models and Plastruct for my scratch-built walls, buildings, and war machines rather than wood and cardstock.  Plastic is more expensive, but it’s also stronger and more resistant to damage especially when supported by a base of Milliput.
Basing:  I use tin sheets (about fifty cents for a 6”x 8” sheet) from Home Depot as the material for my figure bases.
Flags:  My flags are either pre-caste by Stone Mountain Miniatures or cut out of tin from Home Depot; I don’t use paper flags.  In my younger days, I painted everything that went on my flags, but with the years and computer technology, I have done more and more with a combination of paint and decals/wet transfers.  My daughter is a wonder on the computer; she is also a fine artist, and with those talents, she gives me the decals I need for complex flags, banners, and signs. (The Austrian crest and the mons of my samurai were done with homemade decals.)
Finish Spray: All of my work has a finish of Testor’s Dull Cote spray and those that get decals/wet transfers get a pre-shot of Testor’s Gloss Cote, an after-shot of Testor’s Gloss Cote, and a final finish coat of Testor’s Dull Cote to seal the deal. I use Micro Sol for setting my decals/wet transfers,
Glues: I use Plastruct Plastic Weld for my plastic construction, and endless tubes of Krazy Glue for my metal.
My Workbench: My workbench is located in my garage.  A wonderful maple-drafting table (approximately six feet in length by three and a half feet in width) was sold off cheap by my local school district at a time when computer drafting took over the drafting world a decade and a half ago.  On my workbench I also have a small TV and a VHS player (yes, VHS).  During the last 3 or 4 years, VHS tapes have been almost given away at my local swap meet, and I have picked up a couple thousand that I run constantly while I paint.  (I won’t bore you with my taste in movies, but you can probably guess that anyway.) At this point, you won’t find a magnifying glass on my workbench  For me there’s a hand-eye coordination problem with a magnifying glass

My Workbench