PC Mechanic has produced a good rundown of some entry level video editing software. While they've capped the cash limit to $100, there are some excellent free programs listed, such as VirtualDub and Jahshaka Effects.
Be warned though, free software doesn't always translate in to simple to use software.
|HotHardware EVGA Tegra Note Tablet...||120|
|AMD A10 Kaveri APU Details Leaked||22|
|Critics Claim Porsche Carrera GT Paul...||20|
|Windows 8.1 Desktop Usage Inches Past...||19|
|2 Million Gmail, Facebook and Twitter...||11|
|Amazon PrimeAir Uses Unmanned Octo-Rotor...||9|
|Amazon Cyber Monday Is The Real Deal||9|