I was wondering if your chain is supposed to make a rattle loud enough for you to hear when you first take off. The chain I have looks like it is tightened to the right spot but its also at the new chain warning on the little adjuster....
It makes a sound similar to brakes grinding and I wanted to know if that is normal or if I should replace my chain asap.

 

All chains rattle a bit, it's iron against iron.
But if it's not well clean and lubed, the rattle will be worse. The same happens when it's kinked with stuck links or badly worn out.
The safest bet is to change it, especially if it's in the new chain indicator.

 

+1 ^^

 

Thanks for the advice. I'll be changing that out pretty quick. Lube first till I get the money.

 

Get your rear end up on a stand, and spin the back tire just to make sure you have no bearing problems.

After that, check your chain alignment. If it is not aligned well, the teeth of your sprockets will catch on the edge of the chain and you will get some mean clunking noises too.

As well as what these guys said... lube/new chain, have around 1.5 inches of slack.

 

I'll definitely do that. Thanks alot man.