This true. Add SSD, RAM etc to extend the life 

 Mostly just doing more recording work with it and the application I'm developing for work needs more processing power to run well when I'm working out of the house.

It fails the "if it's not a hell yes, it's a hell no" heuristic by a hair. 

 Hmmmm...

Can you upgrade the CPU? Which socket does the MB have? 

 Its a bit more invasive than a RAM or HD upgrade, but I've seen $30 worth of newer CPU transform a rig from "useless" to "actually not that bad". 

 The laptop I have doesn't have an upgradeable CPU or RAM, according to the manufacturer 😐 

 I'm sold. Upgrade to something that's not cheap and disposable! 

 Being a massive cheapskate, I like to buy flagship models from a few years ago second hand end-of-lease, and upgrade them as needed. They'll easily outperform a low/midrange current laptop, and outlive it too, while actually costing slightly less. 

 In light of this new info (I hate when manufacturers do that 😤), then I would say a new one might be warranted. Take your time and make a list of needs and wants then see if something second hand would meet them.  

 Have you downloaded more ram??

Seriously, though how bad is it? 

 Thank you for asking! My old laptop is not running as smoothly as I would like and I need it to be more reliable for work and school projects.