1. Tune-up: A fresh tune-up consisting of new spark plugs, plug wires, a new air filter, and potentially a distributor cap and rotor if they're worn can make a noticeable difference. This is incredibly cheap and often overlooked.
2. Adjusting the carburetor (if applicable): If your 350 has a carburetor, learning to properly adjust the idle mixture screws and possibly the accelerator pump can significantly improve performance and fuel efficiency. This requires some knowledge and tools but is much cheaper than buying a new carburetor. Incorrect adjustment can actually harm performance though, so proceed with caution or seek guidance.
3. Clean the throttle body (if fuel injection): Similar to a carburetor, a clean throttle body on a fuel-injected 350 ensures proper airflow. This is a relatively inexpensive and easy process.
4. Exhaust System Inspection/Modification (Minor): Check for leaks and restrictions in your existing exhaust system. A simple repair of a leak can boost performance. A minor modification might be replacing a restrictive muffler with a slightly less restrictive one (though this is less impactful than the above steps and might be louder).
Important Considerations:
* "Cheap" doesn't always mean "best": While these options are inexpensive, the gains might be relatively small compared to more significant modifications.
* Potential for negative impact: Incorrectly adjusting the carburetor or ignition timing can harm your engine. If you're not comfortable working on your engine, it's best to seek professional help.
* Underlying issues: Low horsepower might be due to other issues (like a failing fuel pump or worn valve lifters) that need to be addressed first.
In short, start with the simplest and cheapest options (tune-up, carburetor/throttle body cleaning) before considering more expensive upgrades. These basic improvements often reveal hidden potential in the engine before you need to spend money on more significant modifications.