Basic help for turntable newbie

I'm looking for some basic advice on a used turntable I recently purchased (Michell TecnoDec.)

-What would be a reasonable budget for a cartridge for this turntable, and are there certain cartridges that are good matches with specific tables, or is it simply a matter of personal taste and budget?

-Is it possible to install a cartridge and setup the table myself, or is professional service highly recommended or required. If possible for me to do it, what tools are needed/recommended and where can I buy them?

-Any other advice or recommendations for things I have not asked about are greatly appreciated!
I personally have not used them, but the Denon line of moving coil cartridges are modest in price and get very good reviews. As for installing the cartridge, its not difficult if you are handy with small tools and patient. There are some good tools you can find on the web to line up your cartridge but you will need to get a good digital scale to initially set the Vertical tracking force. Once you have the initial set up, you will need to optimize the VTA to get the best sound from your cartridge. Again, lots of treads on this subject or go to walker audio or Van Den Hul sites for tips
The HiFi News Analog Test LP comes with an excellent protractor. It's a good $50 investment.

I agree you need a stylus gauge, but a basic Shure gauge should be fine.

Get some needle nose pliers, and a set of screwdrivers for electronics.

A small, flat 3" square mirror is helpful in setting azimuth. These mirrors can be found in the make-up departments of drug stores.

Here is a link to a good article about set-up:
A Beginner's Guide to Cartridge Set-Up
I agree with the Hi Fi News disc. I just set up my new TT this morning and used the protractor that came with the disc to align the cartridge. It is pretty easy to use if you're the patient type. I'll use the LP later to check some of the settings like anti-skate, although you can easily check anti-skate by dropping the stylus down on record while spinning and look to see which why the cantelever moves when it hits the LP. It shouldn't move in either direction. If it moves to the left or right you have some adjusting to do.

The Shure scale will work in the interim. If you really get into the hobby then you can always get an electronic scale. Don't forget to clean your LPs and stylus.
Post where you live, you may just get an experienced Analog member to step up and come over for no more than a few beers....great folks who are willing to help are right here for the asking.
A goldring 1042 is a great match for the TechnoDec.
Thanks to everyone for the great advice! I picked up a Sumiko Blue Point used for a very reasonable price, which should get me started (not to mention that if I screw something up, I'm not out much money.)

I'm in the Phoenix, AZ metro area if anyone local has any advice.
Try Dan at Dedicated Audio (advertises here on Audiogon) or Alan Kafton at Audio Excellence if you have set-up questions. They are both in your neck of the woods.