Here Broseph, let me give you the run down.

Yes, 60cm is probably too small. Light's. CFL's(Compact Fluorescent lights) are cheap and easy to use. Good for you since your on a budget. Go to Wal-mart and Buy at least 4- Daylight Spectrum CFL's For Vegging, and Soft warm for Flower. Soil-Try to find some Fox Farm Ocean Mix. Easy Noob Soil. I still use it >_<. Nutrients- Fox Farms.

This all probably make no sense to you, that why you must READ!!!!!!!

READ, READ, READ, READ, READ, There is a lot of reading, READ more, READ about another weeks worth of info.

-Lighting
-Soil/Hydro
-Nutrients
-Seeds/Genetics
-Vegetive/Flowering Cycles
-Everything about how to grow MJ.

Nobody is going to tell you exactly how to grow. You have to learn, and put in Work, lots of time, and patience. IMHO there really is no such thing as a "Budget Grow". Even Done Right it still is going to cost more than you probably would like to spend.