This cost me 30 dollars in wood and some extra for tools. So this will save you about $270 in new board costs.
Warning: This board is not for beginners, it is not very buoyant and does not have a fin (although one can be added.)
Step 1: Acquire Accoutrements
Screwdriver (electric) and screws 2.5"
Waterproof wood glue
Newspaper (to keep work area clean)
Sealer (eco: linseed oil, ease: varnish)
Wood for surfboard and frame clamps:
5 or 6 1"x4"x8'
The 5 1x4's are what you will be making your board out of. I used pine but anything that you find in your lumber (fir, cedar, redwood) store is probably fine as long as its not too heavy. The 2x4's and the short 1x4 will be used to make your frame clamps. They can be of any wood.