I'd look into upgrading your PSU to something that won't die and take the rest of your components with it. Something like this http://www.amazon.co.uk/Cooler-Master-Semi-Modular-Series-V650/dp/B00FH8UB2W/
Your case is just personal choice, but I'd get an upgrade. Just something that has a bit better airflow.
If you're only gaming then that CPU upgrade isn't really worth it. Wait longer until you have a larger budget to upgrade your CPU, mobo and RAM at the same time. You could invest in an SSD in the mean time.
Thank you for replying, gaming is what I do mainly however I also render videos here and there along with running a few virtual machines for testing software and video tutorials. The PSU that i'm currently using hasn't given me any trouble since I have been using it for over a year, an SSD hasn't been a priority for me since I don't mind a slightly slower loading times, I also don't like the shorter life span in comparison to traditional mechanical hard drives (My personal preference). Though I shall take your advice into consideration, thanks again for replying!