If you're limited on budget, eBay has some killer deals on polishing pads in a wide range of styles. You can pick up several pads for less than what you'll spend on a single "name brand" pad. Don't make the mistake of thinking you won't need several pads to properly do your polishing job. (You won't want to keep using the pad when it gets loaded up with paint residue.)
As for compound, I picked up some meguiars M100 and it's pretty good stuff! A step up from Menzerna, IME. I'm very impressed.
Which variable speed polishing tool did you get? A rotary or dual action? In case anyone else reading this is in the market for a polisher and is budget-minded, this dual action unit from harbor freight is a truly outstanding value, IME:
6 in. 5.7 Amp Heavy Duty Dual Action Variable Speed Polisher
If you use autogeek detailing forums, beware that they are nazis there and have recently begun to take down discussions of any products they don't sell. (Which out of all the products I mention in this post, is everything but the meguiars M100.)
Experiencing this behavior on autogeek makes me very thankful and appreciative that places like 986forum and pelican exist which believe in democratic and open interactions, and unbiased information. THANK YOU, pelican!