Here is my "cheap" hunting rifle. It is a NEF Handi Rifle in .30-06. You can get it for about half of your $500 and have money left for a good scope. I have fired mine nine times at deer ranging from 25 to 125 yards and have put nine deer on the ground. None required more than one shot. With the butt stock shell carrier I can reload for a second shot almost as fast as with a bolt action.
(Luke 11:21 KJV) When a strong man armed keepeth his palace, his goods are in peace:
(Luke 22:36 KJV) Then said he unto them, But now, he that hath a purse, let him take it, and likewise his scrip: and he that hath no sword, let him sell his garment, and buy one.