I would suggest using Isopropyl alcohol which you could find at any drug store or pharmacy for about 2-5 USD. They have several varieties ranging from 70% alcohol content to higher. Personally I use a 91% that I have at home, but I have heard some people being able to get their hands on 100% content. A bit overkill but some people are cautious.
While it's true you can use q-tips I have had experience where the cotton will rub off during the cleaning process and stay on the CPU. While I'm sure you could either blow it off or what is left is minimal, I like to ensure the CPU is completely clear of anything. I have had some success after it was suggested to me, with coffee filters. They don't leave anything behind and will do the trick.