This is something I've been thinking about lately.
When I first started into the whole homereccer thing, I mixed on earbuds and my laptop speakers. Then moved up to my roomate's computer with the slightly nicer piece of crap ten-year-old hand-me-down "hi-fi" speakers and amplifier. Spent a lot of time on those, pretty much had them learned (at least to the point where mixes were translating to my satisfaction), then started reading up on the importance of monitors.
Went ahead and bought some KRK rockit 5s because I could afford them at the time.
Was initially stunned at the increase in detail over my former monitoring chain...
until I took a mix to the car and realized they had their own quirks.
So I took a couple months learning them to the point where my mixes were translating as well as they had before.
I ended up, once I'd learn them, being able to get better mixes quicker than I had out of the roomate's speakers.
At this point I've got a pair of Yorkville YSM1ps which, while not a huge financial jump over the KRKs are just absolutely perfect for my needs.
I had a chance to hear and mix on them before I bought them and they just jumped out at me.
So it only took about a week after I'd bought them before I was going back and remixing things I'd done on the KRKs because I was hearing things in those mixes that were jumping out at me as just awful.
(I'm absolutely not shilling for the yorkvilles, just explaining my experience)
I'm certain I had a point...
Yeah.
I guess I'm agreeing with Atom Bomb's post.
Use what you have until you're absolutely certain you want and can afford an improvement in your monitoring chain.
But also, maybe hold off when you first start looking at monitors until you can afford a step above the giant selection of entry level "studio monitors."
And make sure have a way to really put what you're buying to the test before you lay your money down.
Lot's of retailers online have really liberal return policies, so take advantage.
And congrats to you Philbagg - keep up the excellent work/advice.