Regular Budget: Electric guitar: 100-4550$
Guitar amplifier: 25-2300$
Optional Budget: Guitar pick: 8-10$
Guitar case: 80-250$
Guitar strap: 15-50$
Distortion pedal and processor: 25-650$
I've written about bass, acoustic and classical guitar before, so there isn't much to be said about electric guitars. Anyway, I will try to say a few words that haven't been said.
Electric guitars have a powerful sound, depending on an amp, distortion pedal, processor and many other effects. It's easy to learn to play the chords and the power chords, though it may take some time to master the scales to improve your single note picking.
You can set your amp to clean, where there is little to no effects and the sound is close to the classical guitar or you can turn on the distortion, overdrive or crunch (depending on your amp) and set the effects how you want.There are various techniques, pentatonic scales and spider exercises to practice your playing. Start off with the simple ones as the G-chord scale and later move on to more advanced ones as your playing gets better and faster.
That's about it when it comes to general stuff I haven't already said in my other posts, so as always I will leave you the website address where you can find most of the tabs for almost every song: http://www.ultimate-guitar.com/