Dude, 

What kind of guitar are you looking to play? My first electric was a Squire Strat. I ended spending about $150 on it and another $100 on a used amp. You don't need anything fancy but you also want a guitar that will remain playable once you are much better. The Squire is an affordable guitar with a pretty low action and a nice neck which really gives you enough room to try to eke out your first few bends. I used it for about 3 years and was always please with the results. Basically, go for a name brand guitar (mainly for warranty and reliability) but don't spend more than $150 bucks. At beginners and intermediate levels of playing you won't even be able to tell the difference.