I would start with a nice spinning combo with bait and some small spinners this will be cheaper than trying to outfit your self with fly fishing equip. Then if you like it you can later save up and get the gear to try fly fishing. Shimano and Shakespeare make some decent quality combos that won't break the bank. I started with these kind of combos and increased the quality of my gear over the years and again just upgraded reels this year. My main combo now is a St.Croix Premier series rod, Shimano Saros reel, and I'm trying the new Stren fluorocarbon line this year.

You can have fun fising for trout with a typical spinning reel. You can use vey small Rapalas, very small spinners (Panther Martin; Reflex; Mepps) and you can attach a fly tippet to your line with a small pencil sinker to drift your fly across the bottom in fast current. The pencil sinker helps avoid snags in the rocks. You can also fish with live bait where legal using small worms and corn. Also keep your eye out for garage sales, craigslist.com and ebay for good deals on used fly combos. I got my first fly rod at a flea market and it was great. I think I paid all of $5 for it and caught trout for about 30 years with it. I just got some good fly line and loaded it up. Its worth trying as trout are lots of fun.
Good luck.

If you're looking to buy something new, start with a simple spinning set-up and some itty bitty spinners, like the others said. If you don't mind looking a while and buying used, maybe think about getting a fly set-up. For me, I can't fly cast to save my life, so I'm perfectly happy with an ultralight spinning set-up and the lightest spinners I can find. One of my favorite spinner makers is Joe's Flies -- basically a fly on a spinner, and the trout just hammer them. If you're fishing a bigger water, like a pond or lake or large river, you'll probably need to attach some split shot to the line to get enough distance on your casts, but I love them. Good luck and enjoy!

You can get into fly fishing pretty easily. It takes a little practice (as with anything) to learn the cast. It's a great and treaured form of fishing for all spieces of fish, I fish for redfish, speckled trout, flounder, bass as well as trout. a spinning combo rigged with 2-4 pound test mono or fluorocarbon fishing line works great for trout fishing. I rig a black swivel to my main line whether it be 2 or 20 pound test line, then tie a24-45 inch 2 pound leader to the swivel then to the fly or hook. I have good luck using dough baits on a 2 lb leader, a number 8-10 trout hook and a very small pinch weight added to get the rig down. the dough will float the hook off bottom and keeps hangs down a bit. Good luck with whatever means you fish with.

Fly fishing is fun BUT, it is very expensive. So I would stick with my spin rod over my fly.

I would go with a light spinner combo to start , but if you are interested in starting with fly fishing, I saw in a cabelas or basspro catalog that you can get a "beginner's kit" sort of package for like seventy five dollars

You already have most of the stuff you need to get started on trout fishing. Even fly fishing starter kits can get expensive....fast! I would stay away from that if money is tight, unless you can get one for free from a good friend! I use the same rod and reel for bass and trout. I slay many of both. All you need is a Joe's Fly black gnat spinner with #2 gold blade. Walmart has them for $2.16 Put a split sht about 6 inches up from the spinner and go to it. The spinner does great for smallies too!

worms and shiners work realy good for me and u can dig up worms in your back yard

I just use standard rod and reel. Since you are a bass fisherman, you probably already have some of the necessary equipment. Live bait is almost always a good producer, but so are powerbait, roe, minnow imitations, spinners and spoons.