In order to stay within budget, you'll need to either find a first-time writer willing to work for a screen credit and no more then $150.00 or better yet, write it yourself. A writer who's paying the bills is more likely to keep the budget in mind.
You'll need to know the industry standard script format before you can begin. If you make up your own format, it could get confusing. Last year I worked as an actor on a "rebel" filmmaker's feature. He used a handwritten "script" that was hard to read or follow. The actors didn't even know there were lines for them to learn because you couldn't find them. I thought it was an outline and that we were going to ad-lib our roles. You can imagine all the time wasted on the set that day. Take the time to attend a screenwriting class or at least find a good book on it.
Before deciding what to write, here are a couple of things to keep in mind. First, consider what props and locations you actually have access to. If you live in the woods, don't write something that takes place in a desert. You can make the budget seem bigger by utilizing things and places around you. A good example would be when I recently did a re-write for a film I was hired to direct. Before I sat down at the typewriter, the producer took me out to the locations available to us. After I discovered an old shack, a mock campsite, & even a cave, I went back and wrote them into the script. That was 3 great looking locations that wouldn't need to be dressed or changed for the shoot.
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