i have no idea what im doing in this... i have bought stuff and have no idea how to even start this
1) Read the Gaia Alchemy FAQ sticky at the top of this forum. Click the first link to get a starter kit, if you haven't already, but also just read it to find out the general process.
2) Look over the forum and learn where the guides are. Vampym and Lei_Trigar have guides that list formulas and say what's in them. You'll want that so you don't buy a formula that's too hard to make. Milky Mint and (someone else?) have guides that say where components can be found and what formulas use a particular component.
3) Learn to use zOMG and Towns and Fishing. That's where you get items needed for the simplest Level 1 formulas of Orb Aggregate and Philosopher's Caches (most good components come from this) and Alchemist's Cases (source of formulas). Open the Caches/Cases or sell them. The XP from those will get you all the way through Level 1 and Level 2, but you'll stop earning XP for Level 1 formulas once you hit Level 3.
4) Do not buy Cash Shop formulas. Those look cheap, but they're really only for using up the "consolation prizes" of the fancy Premium Chance items. If you don't already have the chance items, they'll cost too much to gather.
5) Don't beat your head against a wall. If you're stuck for a component, go try another formula instead. If you haven't over-paid for what you've already bought, you can always sell the components back again on the marketplace.