Is it dumb for me to buy the itouch 5th generation?

I have a tiny little lg phone that I love. I'm simple n don't need much. I've had my itouch 4G for awhile but it's all broken n stuff. I just made an order online to buy the 32g 5G ipod and it was $300. Everyone says to just wait and buy an iphone. But I don't really want to pay monthly fees on it. I'm 18 and have a job (minimum wage) but I've been trying to save for school. I feel bad enough paying that much money for an ipod but I wanted to since my old one really sucks. Should I just keep dealing with having 2 devices with me? So far I'm fine with it haha.

Especially if you're paying your phone bills on your own, then just have the 2 devices.It'll save you more in the end.

If you are fine with it then stick with that, lots of people use itouch.