"Can't live without" effects pedals.

I am just starting to put together my gear rig and I am bombarded and overwhelmed with the number of different effects pedals that one could buy and the many different types and variations of the same type of pedal. My question is, if you have a limited budget (and floor space, :)) what pedals are a no brainer to have and which ones fall into the "that would be nice" category. Essentially, which pedals can I not live without?

Any help is greatly appreciated

Much of it depends on what type of music you want to play. It also depends on whether you are interested in developing your own sound, or if you want to accurately recreate the tones of other guitarists.

Yes, it is VERY overwhelming.

You can get a lot of mileage just from adjusting the controls on your amp and your guitar. Play with the different pickups on your guitar.

Personally, what I did was I bought a well regarded multi-effects pedal that includes an expression pedal so I can use a wah. My thought was to use this for a while and see which effects I gravitate toward.

Our of the 99 or so effects and amps it emulates, I find I'm gravitating toward tube screamer, delay, wah, and distortion. Before I got the multi effect pedal, I thought I'd need chorus and flange also...but I haven't used either in over a year.

That's been my approach.

Good luck!!

My choice for a "can't live without effect pedal" would have to be my Vox wah pedal. others have come and gone but my Vox has always stayed on my pedal board.

I just read about this yesterday.. maybe it will fit your budget and space.. Designed for limited space.
Tech 21 Fly Rig 5
SansAmp, Reverb, Delay, Distortion, and Boost
Check at Sweetwater, that's who I received the article from.