Individual cuts aren't much of an issue, what looks like a cut to you is actually usually just an abrasion on the slime coat of the eel, more serious cuts will look red or pink. The slime coat cuts usually heal in a matter of hours (I have seen white spots on my eels body in the morning and when I get home at night they are gone). You don't need to save up to get sand substrate, go to your local home Depot or Menards and get (I believe) paver sand. The granules are very small and not sharp and makes an excellent substrate on the cheap. I would suggest boiling bits of substrate at a time to eliminate any bad bacteria and then add it a little bit at a time over the course of a few days. It actually doesn't look all that bad, and due to the peacocks lighter color, it may blend in better than a black sand bottom.