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Here is a pretty straight-forward guide as to what I suggest you do for maximum bonus/rakeback value.
Step 1: Deposit your $40-50 or however much it is into PokerStars, and grind 2nl. When you get to about $100-$125, grind 5nl. When you get to $250-300, grind 10nl. Continue to grind 10nl until you get to $600. In the process, you will pick up a 100% first deposit bonus for your first deposit on PokerStars (up to $50).
Step 2: Get a Full Tilt Poker account with rakeback and deposit your entire $600, getting their 100% first deposit bonus (up to $600). Now with rakeback and working on the $600 bonus, grind 25nl until you have about $1500, then grind 50nl until you have about $3500-$4000 for 100nl, etc.
Optional Step 3: Move back to PokerStars at the beginning of next year if you think that you'll be able to maintain Platinum Star VIP status or better (for full ring it's at least 53k hands/month at 50nl, 28k hands/month at 100nl, or 24k hands/month at 200nl, whichever applies at the time). You will get similar rakeback (in the form of bonuses) as Full Tilt during the months you make the Platinum Star VIP level, but once you reach Supernova you'll be making over 40% rakeback (released in the form of bonuses) as opposed to Full Tilt's 27%.
There's the step-by-step that I wish I had been given. Good luck.
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