Here's a plan: go to the bank and set up a mutual fund account that takes like $25 out of your main account every month. Drop that $150 into it immediately and everytime you got an extra hundred drop it in. When you got enough to do a real mod then pull out the money and do something worthwhile. The mutual fund account will pay a lot better than a savings account - although there is some risk it'll drop in value, but that will be minimal and usually goes up significantly. Plus it makes sure you actually save up the money for stuff like this instead of blowing it on useless cR*p.
You could be cheap about it, cut your springs and buy some nice struts... I would not recommend this though. Unless you were a ricer, then it doesn't matter
If I were you, I would just save the money. Your car is an automatic. Save the money on something you can afford to beat like an old school car. Id buy an old Mk1 VW, thats just me. Since you guys like toyota, why not get an old celica or datsun thos are pimp. Just do what you can afford. I wouldn't go any further then lowering your car correctly. Unless you can get a stall & shift kit.
it's funny you guys talk about cutting springs..... a good friend of mine has an 89 n/a mr2.... he bought it with cut springs and stock struts. My mr2 has eibach springs and kyb inserts..... his car sits lower than mine, handles better than mine, is stiffer than mine, and rides pretty damn smooth.
i'm considering throwing stock springs (cut) back onto my ae92 just for driving around (yes, i do have aftermarket parts).
just thought about this..... what you really might want to consider doing.... is search around your area and find any local car owners clubs that hold regular auto-x events. almost all of them hold some sort of training/class course at the beginning of the season. You should probably learn to drive your car before you modify it.