Editing PC build?

Hello,

I want to build my own PC for editing GoPro footage with programs such as Premiere, After Effects, and Davinci Resolve, and also for doing (motion)graphics design in Photoshop and Cinema 4d.

But this is my very first computer built so I've got no idea what components I should choose, and if it all fits.

I've only got a limited budget (400-600€ or 500-800$).

I did do some research on it,  and out of that I chose these components:

-Processor: AMD FX-8350

-Motherboard: Asus M5A78L-M/USB3

-Video card: Asus Nvidia GeForce GT 640 2GB

-1TB hard drive

-OCZ CoreXStream 500WATT

So my question was: Are these components (and especially the video card) able to run the things I want to use?

Thanks,

Jeroen