Will this build work?

[LemonTurtles]

This is the build I am planning to build. I'm doing this for the first time so I'm not exactly sure if there are some extra wires or some compatibility issues of some sort. My build is going to be this: http://pcpartpicker.com/p/3pD3Bm and I would really appreciate some pointers to what I should improve on.

PS: This is a sort-of budget build and I'm not sure if it will work out or not.

PSS: The CD drive for this build will be from my old HP p6122f if it will fit in my case.

EDIT: Changed a few parts thanks to some responses and might now look like: http://pcpartpicker.com/p/pBhy99

 

[prit87]

For a budget build its good just change the PSU to a seasonic, xfx , antec HCG for better quality a good quality 500 watt PSU is enough for your system.