Whilst this is not a "technical" reply, because the rules, where I live and fly, are different to what happens in the USA, perhaps I may be allowed to comment on one common rule.
"It is better to be down here wishing you were up there than being up there wishing you were down here"
IFR without good equipment can easily put you in the second situation. It is a matter of what your life is worth to you and your family.
If you cannot afford the right gear, which is easily used and reliable when you are in the clag and up to your fundament in problems, and you are staking your life on a compromise solution, then you really should not be there.
My experience, over 50 years and many thousands of hours, is that very few private trips, which require flight in IMC, are really necessary in the first place.
None of them are worth dying for!