http://pcpartpicker.com/p/N8CkZL (Full setup)
I'm new to pc building and a huge noob so i want to use a gtx 970 and i5 with a 500w PSU
will this work?
Yes but its not a good psu, avoid it.
Do you have any recommendations because i have a limited budget and this psu was suggested by a youtuber austin evans
I wouldn't trust his build if I were you. His builds are honestly pretty crap. If you want to stick EVGA, you can use a GS/G2/B2 series psu.
The EVGA 500W will do you fine...
Choose 500 watts tier1 PSU shown below link