Actually, it's not that expensive to maintain orange gear because on later planets there will be modification commendation vendors where you can buy the components for your moddable gear with commendations rather than credits. And you'll get plenty of commendations from questing.
For your companion, use loot and quest reward gear.
Basically, never spend credits on gear unless you absolutely have to. You can buy orange gear for both you and your companion with commendations also.
Additionally, as another option, instead of synthweaving you could get cybertech as your crafting skill. Cybertech crafts armorings and mods for armor so you would just need to buy the enhancement and hilt pieces for gear.