Custom Build power problem

Hey guys!

I just got done building my first personal custom build (Not the first one i've done though) However, there is a problem. When I finished plugging everything up and all I went to plug in the power and boot it up. All the fans started spinning, LED's came on then boom. It all went out. However once I click the power button again it does nothing, but when I unplug the power from the wall the back in and press the power button again it will attempt to boot once more.

RAM and CPU installed correctly, checked numerous times

Extra info: The PSU I bought is extremely cheap, it is advertised as 550w. However it came in a bundle with my case, on clearance, for around $50. Could this be my problem?

Specs:
Intel Core i5-2500K Processor
10-Bay ATX Mid Tower Computer Case w/550W 20+4-pin PSU & 250mm Blue LED Fan (Black)
Corsair XMS3 8 GB (2 x 4GB) 1333 MHz PC3-10666 240-Pin DDR3 Memory Kit CMX8GX3M2A1333C9
ASUS SATA 6 Gb/s DisplayPort Intel Z68 Micro ATX DDR3 2200 Intel LGA 1155 Motherboards P8Z68-M Pro
Sapphire AMD Radeon HD 6850 PCIE Video Card (100315L)

Thanks for any help! I'm desperate!

no way we can really tell without the rest of the specs... but it could be...

I had a PSU do that to me before. Granted it was about 10 years old when it started doing that. After i replaced it, it worked for 2 weeks. then the motherboard went and caused the same problem. It probably didn't help that I had a 1Ghz athlon 64 oc'd to about 1.3 Ghz

There are several things that can cause the problems that you're having. The most common from new PC builders is having extra/unused mobo stanchions in the case. If the mobo touches an unused stanchion then it shorts and causes your symptoms. Take a look at this very useful thread. http://www.tomshardware.com/forum/ [...] o-problems

Check and re-check everything recommended in that thread. If you still have the issue, then try breadboarding: http://www.tomshardware.co.uk/foru [...] _13_0.html

I think it's more likely to be an issue with your install than your PSU. Would I personally get a better PSU for my rig...yes, but that's a personal preference. There are other things you can do prior to buying parts you may or may not need.