I made the terrible decision 6 months ago to buy a Victrola Eastwood Signature turntable. After learning some more about audio equipment, I realized this was a massive blunder on my part, and I now am eager to replace it for something better. Bear with me, as I’m still trying to understand all the new equipment terminology/concepts, but here are my questions:

My turntable lacks adjustable antiskating and counterweighting, but it has what I presume to be a somewhat okay cartridge (ATN3600L). If I continue using it, will it eat through or devalue my records? I know I’ll eventually replace this turntable, but with my current financial status being less than ideal, I’d like to know how urgent it is that I do so.

This is my current “setup”. I have a small room with not much space, which was one of the reasons why I bought this turntable in the first place. Are there any good setups that can fit within the same approximate area, which are also under 500$? (Please give some recommendations even if they don’t fit, because I can likely work something out, it would just take more effort)

For additional information, I have a Schiit Magni 3+ headphone amp, I don’t know whether or not this can be used in the setup to reduce costs, but I suppose it is worth mentioning.

Thanks all.