Re: long range
I looked up the scope that you referenced.. I'm guessing that it's the $70 duplex reticle? If that's all that you can afford, then go mount it and shoot shoot shoot! If you are going to get better glass in the future, you will only be out $70.
Now, I'm not a gear snob, and I know how it is to shoot on a budget, but if you can scrape together another $80 bucks or so, you could get the Elite 3200 10x40 with mil dots. If you are planning on getting into target shooting, or even want the mil dots as holdover points for varmint hunting, that would be a better scope.
Any way you look at it, the key to getting better is to practice lots. Reloading is a great way to go. Startup is a bit expensive, but you can load really high quality ammo at much lower prices than buying the match grade stuff for 25-30 bucks a box. Really, rolling your own won't save you any money, you just will shoot a whole hell of a lot more. At least it worked that way for me.