Hi there
1) I don't know about the set's cost, but costs for a 1.5ft planted tank runs up much higher than that when you are first starting out new. My advice is: Get a Eheim cannister fliter, a good quailty 2 feet tank, a 72W light set from Nature Aquarium, a product called JBL Aquabasis Plus ( aka JBL base fert ), Lapis Lazute Gravel, a good 2L C02 set. Oh, you need liquid fertilisers too. Get EasyLife Profito while you're getting your lights at Nature Aquarium.
The reason why I'd rather you buy this is I personally feel that for the first time, it's better to start with a larger tank ( 2 feet minimum ) and to have lights ( Nature Aquarium's one comes with 2 light tubes, each 36W so totalling 72W ) that can handle most plants. You need to buy all these, because, ( pardon the bluntness ) you are new, and do not know the science and mechanics of a planted aquarium yet. Those "low-tech" planted tanks that you see around are actually either lucky pull-offs, or the creator actually knows what's happening in the tank and can keep it beautiful without any expensive equipment.
A waterfall fliter ( or more commonly known as Hang-on fliter ) is well... not very highly recommended. A internal fliter or a cannistor is best for planted tanks. There are no special lights you have to buy for plants if you buy from Nature Aquarium. Their tubes are standard Osram/Elbiru PL tubes.
3) Ok, if you cannot afford a C02 system, the plants you can keep are typically Java Fern, Java Moss and Anubias Nana. Yes that's about all you can keep. Those plants will survive without C02, but they won't flourish. Keeping a plant alive is different from growing and making a plant flourish.
4) Right now, ( pardon tongue-in-cheek bluntness ) all you are missing is a lack of reading up, and about $300 in budget. Read up more my friend, especially here in this forum. A search of "planted tanks" will turn up lots and lots of sites that bring you through your first planted tank. Good luck
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