I would suggest playing the free weekly cycled characters and if one of them fits your fancy go with one of them. It's the best way to "Test Drive" Before you buy in that game.
dont buy anything. wait for skins to go on sale for your favorite champions then buy what you want with that. Also dont buy runes until level 20. tier 3 only runes that are worth it. everything else is just wasting your IP. spend your Ip before level 20 on new champions or save it for buying runes, cuz runes are hella expensive
:P
Back in the day, though, I was typically able to amass 6300 ip between champ releases, so, ya, skins. Or rune pages.