Does lighting have to be complicated? There is quite a bit for you to learn before you become truly proficient in lighting. If you want to learn everything about lighting, then the answer is yes. Or you could also, in theory, go your entire career without ever using more than just one light.
You will only need to set up and meter one light. This will save time on any photoshoot. Shoot three or four takes, and you're done. Large light set-ups require a lot of time to set up. It's also far easier to carry one light around than it is to lug around four or more.
The key light is the main lighting source. The strobe itself is the thing that's actually flashing. The light source could just as easily be a window or a street light. This light is the primary light you will be using to light your subject.
Fill light: In this case, the fill light is the reflector. When placed other side the key light, the reflector bounces light back onto your subject, filling in the shadows. Reducing contrast in images can help make them appear more flattering. Reflectors are not necessary for fill lights. Your subject can be illuminated in any way that obscures shadows.
Reflector
This cost less than $20. Don't be overly concerned about it and let it get dusty or damaged. Replacement reflectors are easy to come by. Make your own reflectors if you don't want to buy one. These different materials can all be used to reflect light: foam core, poster board, and styrofoam.
Modifiers
Modifier can be of moderate size to gigantic. It was done to soften and flatter the light. The absence of specific examples is not proof against the use of a single hard light source with a reflector.
To simplify things, you can hold the light source in front of the model and move it to the side slightly so you can position it far enough away to where you can take a photograph from just in front of the model. Without the Modifier, the shadow side of the subject would be too dark and without contrast.
Get as close as you possible can to the subject as you can for portraiture. As the apparent size of the light source increases, the light becomes softer. It's harder to look bad under softer lighting. Put the reflector in front of the model, move it around and observe what it does. You can model lights and learn to distinguish the reflector's subtle differences. It's difficult at first, but you'll soon begin to notice changes.
Measure the reflected light using a meter with and without the reflector. You can use the light meter to measure the light output of the reflector, which is acting as an independent light source. If you are aiming for a specific ratio, or you know you want to underexpose by two stops, set your exposure meter accordingly. Be aware that the reflector can be rotated in a variety of directions. In particular, when using a large reflector, you don't want or need the entire surface area to be in use. Alternatively, you can turn it any which way to produce the desired effect. Off-camera lighting does not mean you are shooting wiht lights. Window light is included as your main light source.
The first item you should purchase a reflector. Not only are they necessary, but they are also quite affordable. The focus here has been on portraits. However, every one of these techniques can be employed when lighting any subject.
If you want to get good with photography, using a single light and a reflector will give you an infinite number of techniques. Prior to moving on to more complicated set-ups, try to explore as many as possible of these simple methods, as you will discover that most situations would benefit from the simplicity.