What do you think of this guys?

Well one of the people in my school, has offered me to host our forums. He is planning to setup a video sharing site, and he said there will probably be extra resources, so he asked if I was interested in hosting something. So, I said we will be setting up a phpBB forums. However, it'll cost me $8 month. And the RAM for the VPS is 512 MB. Bandwidth usage is 1 TB. So, what do you guys think, should we take it? It will be $8/month (if we use a 512 MB VPS).

UPDATE: According to what Razeen said before, the video site takes a lot of resources. The guy who offered me the deal said it shouldn't take that many resources, since you could embed a video, but anyways, he is intending to get more RAM, but money could be an issue.

As I get more information regarding this, I will update my thread with all the information.

it really not that bad an idea but yes as i mentioned videos do take up alot of bandwidth especially sites dedicated to them. If the video site is more like the terms of youtube i suggest you do not do this but if not then its alright. Need any help/suggestions let me know.

NOTE: if u need the $8 i am willing to donate if truely needed.

I'd say my deal with him is off. We could use donors, but not for this purpose. Maybe for something else...