I would agree with the above about focusing on learning. As a teenager in a small desert town I worked for a boat shop that also did side jobs on buggies and dirt bikes. I learned a lot about mechanical there, then learned to work electrical in the Navy, and now i make multiples what my buddies who stayed in that town and still work at the boat shop do. Expanding your own skillset is never a bad investment.
As for the Jeep side of things I would focus on steering and rust issues first, and then from there let your wheeling trips guide your upgrades. With limited funds I wouldn't work towards new high cut fenders and would instead just look for a replacement. The money you save on high cut fenders now can be used towards those Ranchos, which would increase your ride quality significantly. High cut fenders wouldn't really improve any aspect of ride quality unless offroad and in clearance situations, and it sounds like they are still a ways down the road from the terrain you're currently wheeling.
Beautiful Jeep by the way. I've always had an eye for the rare color options, which are commonly found on the Saharas.
