First Time Upgrading My PC – What Should I Prioritize?

Hi!

I don't know much about PC parts, so I'd really appreciate your advice.

I'm planning to upgrade my PC mainly for Valorant and everyday use. Lately, my FPS has been dropping to around 50 FPS, and the game has become pretty laggy, especially during fights. I know my PC is already old, so I think it's finally time for an upgrade.

My budget is around ₱7,000–₱10,000, but I can stretch it a bit if it's really worth it.

Current specs:

• CPU: Intel Core i5-7400
• GPU: Intel HD Graphics 630 (Integrated Graphics / no dedicated GPU)
• Motherboard: MSI H270M Bazooka (Micro-ATX)
• PSU: Strike 600W (200–240V AC)
• RAM: 32GB DDR4 Fury HyperX
• Storage:
  • 120GB Kingston SSD
  • 500GB HDD
  • 1TB HDD
  • 1TB HDD
• Monitor: Planning to upgrade

What I'm planning to buy:

• Ryzen 5 5600
• Thermalright Assassin Spirit 120 Plus
• MSI PRO B550M-VC WiFi (Micro-ATX)

My plan is to reuse my PSU, RAM, and storage for now since I think they're still okay and I want to save as much as possible. If you think any of those should be replaced first instead, I'd love to know why.

I have a few questions:

• Is the Ryzen 5 5600 still worth buying in 2026?
• Is this the right upgrade path, or should I prioritize something else first?
• I'm also planning to upgrade my monitor in the future. Any recommendations for a good value 24-inch 1080p 144Hz (or higher) monitor?

I'm also open to buying second-hand parts if they're reliable.

If you had my current setup and a ₱7k–₱10k budget, what would you upgrade first? I'm not fixed on the Ryzen 5 5600, so if there's a better upgrade path within my budget, I'd really appreciate your recommendations.

Thanks in advance, and please go easy on me. I'm still learning about PC building. 😅