Cashing in a Re-buy Without Re-buying Strategy
You start with 1500 chips for the first $3. Anytime you are at T1500 or less, you can rebuy T1500 for $3 (this means if you are at T0, you can reload to T3000 for $6). At the end of level 4 (one hour), all players may addon T2000 for a final $3. At this point, the rebuys are done and the tournament becomes a traditional freezeout (lose all your chips and you go home).
Rebuys tend to play quite bizarre - people will randomly shove ATC in the rebuy period. Their goal is to build a large stack regardless of cost, expecting to be able to use it to profit later. This means there will be a TON of chips in play early. Generally at the end of the rebuy period, the average stack will be over T10,000.
It is possible to profitably play this tournament on a set budget - the absolute minimum would be $9 (rebuy at beginning, addon at break), and generally $15 or $21 (one or two double rebuys) is a reasonable budget.
However, if you are primarily concerned with bankroll - do not play this tournament. It's not designed to favor players with your strategy and you'll struggle to accumulate the necessary chips.
I would suggest avoiding tournaments in general in what I understand to be your situation, as they are extremely high varience. It's just not worth the risk of going broke. Mix in an occasional tournament, but focus elsewhere - you can make the small steady gains that you need in cash or SNG play.
Simply, the best strategy in a rebuy is to take every single rebuy to which you are entitled, and always add-on (if there's an add-on) unless you have at least 10% of the total chips in play. When you see the buy-in, multiply it by 7 in your mind. That should represent the average amount you should expect to spend.
Many players approach the rebuy period with the intention of gambling a lot with a goal of building up a big stack. In reality, how you play during the rebuy period will depend a lot on how your table is playing. Wild tables with 2 or 3 rebuy maniacs are great. If you catch cards you can amass a huge stack with a minimal investment.
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