Ghetto board building for broke surfers

Whats happenin fellas, I've never built a board before and I want to do so. Im far too broke for buying a blank and resin and all that stuff though. I do have a lot of tools though. Do you know of a cheap way to build a board? Long or short, either is fine.
I was thinking about just getting a big block of foam and shaping a board out of it by cutting away at the foam. Then, I would maybe get plywood for the flatter parts, i.e. the top and bottom of the board, and use a strong, water-proof glue to glue it on. Maybe liquid rubber or something. Not sure what I would use for the rails yet, but I'm gonna keep thinkin on that one. I'd fill in any gaps with some sort of resin to make it even. Then, I'd sand it down and make it as even and smooth as possible. Maybe put some thing all around it to ensure everything would stay together (this board would mostly be used for lighter, smaller waves).
This was off the top of my head and i didn't really consider the buoyancy of the ingredients, but do you think that would work?
Thanks brajs
I was thinking about just getting a big block of foam and shaping a board out of it by cutting away at the foam. Then, I would maybe get plywood for the flatter parts, i.e. the top and bottom of the board, and use a strong, water-proof glue to glue it on. Maybe liquid rubber or something. Not sure what I would use for the rails yet, but I'm gonna keep thinkin on that one. I'd fill in any gaps with some sort of resin to make it even. Then, I'd sand it down and make it as even and smooth as possible. Maybe put some thing all around it to ensure everything would stay together (this board would mostly be used for lighter, smaller waves).
This was off the top of my head and i didn't really consider the buoyancy of the ingredients, but do you think that would work?
Thanks brajs