Lenses for Olympus OM-D EM-5

I am buying my first real camera, and have decided to go with the OM-D. Up until this point I've been using my father's DSLR but it's time for me to get my own. That being said I am having a little trouble deciding what lens I should buy.

As I understand it micro 4/3 camera lenses are half the 35mm format i.e. a 12mm micro 4/3 lens is the same as a 24mm lens.

I am looking to take mostly wide angle shoots, a lot of street photos. And I do not shoot very many videos.

Is the m.zuiko digital 14-42mm the way to go?

What are some major differences between Olympus lenses and Panasonic?

Price is an issue because I am still a student and virtually broke.

I would really appreciate the input on this subject.

Thanks.

P.S

If anyone is looking to sell an OM-D (preferably silver) let me know.