Making boomerangs is a hobby of mine born of long, boring summer days with nothing to do. It was a struggle to find new things to do without spending a lot of money. You can go to the movies and spend $8 to entertain yourself for two hours with your friends. That's an entertainment cost factor of 1/4 hr/$, which is quite low for a broke student. If you want to make some boomerangs and assuming you have access to a drill, you may spend $50 for everything you need to make 20+ boomerangs, 30 hours of engaged and exciting building time and endless hours of entertainment. The entertainment cost factor of booming is entirely up to how may times you want to throw your boomerang.
This step by step guide will walk you through the methods that I have found best for making boomerangs on a student's budget.