The two above mentioned directions are the most common for those engaging in light to moderate offroad use. I say that because the first method will increase not only in cost but in necessary parts for that more moderate to extreme use which is negated by the use of your vehicle.
First thing you should learn is tires! lift your truck...
Suspension/body lift creates room to put larger tires but just like anything. Altering suspension beyond certain aspect ratios requires or facilitates the need to modify more or other things to complete those thoughts and actions.
With good information and a good direction you want to be in both now and say 3 years later due to a bigger project/mod you want to do. What you are paying for in most cases with some smart shopping/patience is better "quality". I like to use the expression in no matter what you do, Automotive mods to a Water heater in your home;
"You can shop by all these methods.. Quality, Service, and Price. Pick two cause you cant have all three."
My method as a project coordinator is to think long term what my client/customers needs and wants are and create that path and try to stay on par with it as best as possible. Would make NO sense to have you come in put a turbo kit for example in "layaway" fashion, knowing its a 9 month purchase for you and have you come in 4 months later wanting to throw $600 at a set of headers that are useless by the time you get your turbo kit paid for. May as well throw $600 at the turbo kit.. make sense?
So think of your project as what you want to do to it and need it to do for you and build it in a way that makes sense. One project should lead into the next in order to keep your build on target. Dont buy tires too big if you dont have the lift/room to put them under the truck.