I agree with the two sensible replies posted above but add the following:
If most of your flying is VFR, consider a group with a PFA aircraft. The cost can then be really low with a well-run group. (e.g. our group of 6 fly a two seater @ £2000 per share, £28 per month, and £9 per airbourne hour dry - we buy our own AVGAS).
With flying this cheap I can afford to hire when I need an IFR or M/E aircraft.
Another advantage of PFA groups is that the costs are lower so you can learn more about the pros and cons of groups without risking so much money.
You can learn a lot by talking to non-group members at the same airfield.