Seems to me like you answered your own question here. You have other needs and a working reel. If it's the same one I am thinking of, it was made by Okuma and is the Cabelas version of the Sierra. That is a solid reel with a good drag for a 4 or 5 wt! I fished the Okuma version for years and it never failed me. No doubt a Konic or Allen would be upgrades, but that will come in time.
Get what you need now and stash away a little bit of money for fishing equipment/gear, maybe you'll find something in the classifieds here.
At the risk of sounding parental, save up for college, get a good education and you can buy all the nice gear you want once you graduate and get a job