Super budget under $50

[Bman0121]

4 {Delver of Secrets}
3 {Invisible Stalker}
4 {Augur of Bolas}
3 {Nivmagus Elemental}

4 {Brainstorm}
3 {Rapid Hybridization}
4 {Gitaxian Probe}
4 {Runechanter's Pike}
3 {Ponder}
3 {Echoing Truth}
1 {Vapor Snag}
2 {Thought Scour}

2 {Inkmoth Nexus}
20 {Island}

Pretty frickin sweet right?

[Falcon182]

There's a budget deck! Looks pretty good but it'll still likely get bested by most Legacy decks. There's a reason Legacy cards are so expensive. :-)

[Bman0121]

Its just a start eventually you could add the  {Force of Will},  {Snapcaster Mage} and turn into the tuer 1.5 mono blue wizards