Buy A Decent Cartridge
Download a protractor at Vinyl Engine, and set the cartridge up that way. There is nothing inferior about doing this. I have used them, and just cut the center out with an exacto knife. If you want to go high tech, then have it laminated after it is ready, and u can use it again.
You do need a decent brush to pull dust off the record before playing. Most people use the Audioquest carbon fiber brush, and Micheal Percy has them for about ten bucks. Also buy a stylus cleaner, which will prolong the life of your stylus and records. These are routine maintenance items you need.
Buy the Shure pressure gauge from Micheal Percy also. You should be able to get all your vinyl maintenance stuff from him. If you look around locally you might find a small digital scale that can be used for setting tacking force. May not be as accurate as the big dogs, but they can be had inexpensively. Another option is to borrow one from a local store, and then see how accurate the one is on the table. It might be feasible for you to rely on that one, especially if you don't change cartridges often.
You may want to consider a record washing system. There are several DIY ways to do this. I personally think that using a homebrew recipe of purified water, isoprophyl alcohol, a mild detergent, and Kodak photoflow makes a good cleaning solution. There are several DIY formulas on the net, and people have achieved good results. Go to the drug store and buy a couple of brushes used for cleaning under the fingernails....they are stiff enough to get into the grove and gentle enough to use on vinyl. Have one for the cleaning solution, one for a rinse. Dry with micro-fiber towl,and finish in a plastic dish draining rack. Cheap and effective record cleaning system. Also consider buying some new sleeves from someplace like sleevecity.com. Best to put clean records in pristine sleeves.
Now about that cartridge. I am not a Grado fan, although I know some people are. When I look at the cheaper Grado cartridges, I see a cantilever that looks the size of a telephone pole. It has a BRASS BUSHING attached to the end. Then a diamond CHIP is bonded to it, you really can't call it a stylus. The whole thing has the moving mass of a VW Bug. Try to stretch the budget how far it can go, minimize other expenses on the set up gear, and spend the extra cash on a good cartridge. There are several good budget ones out there. The Nagokoa(sorry about spelling) appear to satisfy the adventurous owners who buy them. Of course the AT are well received, and they have some advanced stylus profiles at their price points. There is a thread that was recently posted about how a Stanton cartridge can be made to perform extremely well with a better profile diamond. I would look into that. Denon and Shure might have cartridges that fall into your budget. I would take any of them over a Grado.
Of course this is just the musing of a barnyard animal. You might want a second opinion. If so ask the cows, don't ask the chickens. Fowl cannot be trusted to tell the truth.
Regards
Mister Pig