...I don't have tons of money so this will be a repair I have to make myself. I'm pretty handy but I want to make sure I do it right so as to avoid further cost....
Then I would strongly recommend renting a small backhoe if possible or getting a "friend" with one, and channelling this pond out so it is dry, and taking a good look at everything about it. It doesn't hurt to leave it this way and slowly improve it to even perhaps "mucking it out" and increasing the depth, adding your "beach area" (I like stone more than sand myself) and perhaps putting in some underwater feature which can be built with heavy timber. This could even include a "pool area" of substantial depth. All of this is within the prudent and patient abilities of a DIYer with time but no money. I would be remiss if I didn't suggest checking in with your state to make sure you're within any of the state's Watershed, Impoundment, and Wetland compliances.
As for the spillway..."sandbag it" as this may be your cheapest route if planning on doing this yourself by hand and wheelbarrow. I have seen huge (<2 hectare) japanese ponds built all by hand by one elderly Mater Gardener...Also, I would not that the deepest well I have dug by hand is <20 meters, and I have dug pools out that are over 7 meters deep...all by hand, so a wheelbarrow and shovel (with patients) can do a great deal...Be safe and plan well...
Good luck and keep us all up to speed on your progress and work...
Regards,
j