In this video, Christopher Nolan explains how to make a good no budget film like Following (1998).

Music by Anthony Baden Saggers.

Following was Christopher Nolan's debut feature film and was made for only $6000 dollars. Almost all over that money was used to fund the costs of film stock and film processing, which means that modern filmmakers using digital photography can imitate Nolan's process to make a no budget film that literally costs nothing (if you have equipment available to you).