Here you can create a custom starting save for Borderlands (PC).

These save will work online. Current game version is 1.0.0.0.
There’s a chance that Gearbox could release a patch that makes them stop working.
Use these saves at your own risk. I am not responsible if you get banned from online play for using a hacked save.

You can select your Level, Experience Points, Skill Points, and Cash.
The save starts the game right when you get off the bus and Claptrap gives you the HUD.

Saves are stored in:
Windows XP: C:\Documents and Settings\<windows-username>\My Documents\My Games\Borderlands\SaveData
Windows Vista/7: C:\Users\<windows-username>\Documents\My Games\Borderlands\SaveData

Min: 1
Max: 65535 (FFFF in hex)
Recommended: Any number that doesn’t already exist in your save folder.
Notes: Theoretically, Borderlands can handle up to 65535 saves. Each save file has the slot number stored in both the filename and the save data. If they do not match, the game will create a new save or overwrite an existing save using the slot number stored in the save data, instead of the filename.
Saves are named Saved####.sav, where #### is the slot number in hexidecimal.

Min: 1
Max: 16777215 (FFFFFF in hex)
Recommended: 50 is the normal level cap. So 50 for online play (so you don’t look too suspicious). Max for single player if you want to be nearly invincible.
Notes: Instead of your max health being stored as it’s own value, your level directly affects the amount of health you have. The higher your level, the more health you’ll have.
Also, setting a high level does not automatically give you skill points or weapon proficiency.

Min: 0
Max: 255 (FF in hex), possibly higher, but you can’t spend more than 106 skill points anyway.
Recommended: For online play, to appear legit, your level minus 4 minus the number of points already spent. 106 for single player cheating (this is enough to get all skills).

Min: 0
Max: 16777215 (FFFFFF in hex), possibly higher, but this will get you to level 50 and no further.
Recommended: 16777215 to get to level 50 in single player. Don’t load this save in online mode, or other players will see you gain 49 levels in a matter of seconds.
Notes: If set this to the max and have your level set to 1 in the field above, when you load the save, you will instantly level to 50, and gain 46 skill points. Just like if you earned the experience points in the game. If you set your level to 50 or higher, then this will have no affect.

Min: 0
Max: 16777215 (FFFFFF in hex), possibly higher. Hard to tell because the game won’t display more than 9999999.
Recommended: What you want. Other players can’t see how much cash you have as far as I know.
Notes: The game will not show more than 9999999, but if you set it higher than that, you really will have what you set it to and the game will continue to display 9999999 until you drop below that amount.