Short films don't make money. (most of the time)
You can shoot a short film under $1k easily, a 8 to 15 minute film
or rather, video is a fun thing to do if you're really committed. I
suggest you work towards Canon DV fest or Panasonic-MDA digital
film fiesta if you don't have any prior experience.
Filmmaking is not about taking a camera and shoot, it takes a ton
of planning to have it look good.
Cheers.