That magnetic building system is a nice way to start learning to build. I don't know why more people don't go that route. I have a couple of Exacto knives but don't use them much for building. I buy boxes of single edge razor blades from the hardware store (about $6 for 100 blades). I use a brand new blade for film covering until it feels a little dull (10 cuts or so). Then, that blade gets relegated to cutting balsa. Razor blades are thinner and give a better cut than an Exacto blade, IMHO. For glue I use thin CA, Epoxy, and Titebond 1 wood glue. I know some people use Titebond 2 or 3, but I don't see the point. Good luck on the build.