Cheap tools suck! If you use them you'll break them, you might break whatever you're working on, and you'll spend more money to replace the crap tools you wasted your money on.

Do you have:
- Allen key set?
- Floor pump?
- Tire levers?
- Basic set of screwdrivers/wrenches?

These are the first things you'll need, to perform the most basic adjustments. If you need to do something and you don't have the right tool, go to the LBS and buy it. Then you'll have a good tool that may last you a lifetime. Chain tool ($15), crank puller ($15), cassette/freewheel remover ($10), chainwhip ($20 or make your own...) are some that come to mind.