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The main things eso plus gives that make it worth while are:
1. an unlimited crafting bag to store your raw materials.
2. access to all DLC but not the chapter, which currently would be greymoore.
3. crowns you can spend in the crown store.
If you play a stealthy character, then joining the Thieves Guild and the Dark Brotherhood (which requires access to their respective DLCs) makes sense at an early stage already.
If you plan to purchase crowns at any point in the future, then you might as well buy a subscription, because ESO Plus gives you 1650 crowns per month. So instead of e.g. buying 5000 crowns three months from now, you can buy a 3-month subscription now and have roughly the same amount of crowns in three months for about the same price (depends on region), but you also had all the other perks in the meantime.
It's perfectly possible to play without ESO Plus though, especially in the beginning. So check whether any of the above appeals to you (and read what others will be saying), and then decide.
If you are used to playing any of the single player ES games, you know that when you start out you have limited inventory and you have to prioritise. In game gold is easy to earn - the game plays fair in that respect - so I would advise buying as much bag/bank space as you can early doors.
If you have issues, then you can create what is known as mule characters which you just use for storage. However early game you shouldn't need too much storage.
Basically as you start off, your weapons and armour fall as loot. You equip what is an improvement and the rest you deconstruct/research at a crafting station. There is no need to worry about armour sets until you reach CP160/Level 50. Until then you will outlevel any crafted/bought armour very quickly and it will become useless.
Also there is absolutely no need to buy all the DLCs. The base game + Morrowind had more than enough hours to keep you entertained until the killer sale comes along. There will almost certainly be one at Christmas and usually Easter, Summer and Autumn - as well as the odd promotion. If you feel that you want to expand then you can buy the old chapters for peanuts.
Where ESO+ is a real bonus is that is gives you access to the DLC dungeons. However by the time you get around to doing those, you'll have almost certainly decided whether you want to carry on playing. If you are going to put any time into ESO, buying plus is useful.
The cut price way of doing this is to buy one month at a time but not necessarily consecutively. For each month you buy you get 1600 crowns. During this time try out the dungeons and buy the ones you want with your crowns. After your month is up you will still have access to craft bag and bank, you just can't add anything to it. Run out of stuff? Buy another month and decide how to use your crowns. The dungeons you buy will be available to you when ESO+ runs out.
Warning, though. Most people who try plus do get seduced to the dark side and keep it. It's just so convenient :D
https://alcasthq.com/eso-plus-guide/
Only you can determine if it's "worth" it to you.