I guess the best thing I can say is, "Visit a local tackle store/sporting goods store." From my experience, many of these places have folks who can show you some options that fit your budget and may have some good sales. I recommend that you do a little homework first - you want to be able to tell them the species for which you want to fish, the type of fishing (baitcasting/spincasting/spinning) in which you are interested, the type of water you will be fishing (lake, pond, river, etc.), and whether you will be bank fishing, wading, or using some kind of boat/canoe/ kayak. Another possibility is looking at EBay, Craig's List, or the classified ads in your local paper. My personal preference is to buy new since usually there is a warranty for your gear. Also, I'm a big believer in having a rod and reel in my hands to see if it is comfortable before I buy, so I would go to a store before buying online.
As an example, Dick's Sporting Goods in our area has a knowledgeable staff and several budget set-ups that can get you started. There may be other possibilities in your area. Don't forget you will need line, terminal tackle, and lures so consider those added costs.
Just a personal note: There are a bazillion folks on here more experienced than I and they may recommend that you save up to increase your budget. I certainly agree in principle with that; but, and I only speak for myself here, I would much rather be fishing for the next few weeks than saving. Should you decide NOT to wait you will at least be gaining experience and knowledge to help you in making future gear choices. (I bet I get yelled at for this!) I happen to believe you can't truly enjoy fishing unless you ARE fishing. Listen to what these guys tell you though - they have helped me immensely!
Finally, try to select from name brands that offer combos in your price range - Abu Garcia, Shimano, Daiwa, Lew's, Okuma, and others should have something to help you get started. And ANY rod is fun when there's a fish on the other end of the line attached to it.
Lot's of blah-blah in this, but I hope it helps. Good luck!