Like a couple others said, keep the Colt and save for the S&W. I too am a snubbie fan. I've got 2 36's and granted I wouldn't trade them for the Colt either.
I'd take the 38spl jframe over the 380 any day of the week. Carried both for a while, but always leaned towards the jframe as my goto CCW. I usually keep it stoked with old school FBI loads like Remington 158gr +P or Corbon 158gr +P+ LSWCHP (alas the latter is not offered any more by Corbon).
You might look for an older j frame in like new condition and start there. A new j frame is a bit rougher that the 70's - 80's guns. Mine is from mid 90's and still pretty nice.
Everyone has different financial situations, so I don't judge at all, but I try to keep my firearms separate from any sort of financial necessity, specifically to avoid ever feeling pressure to sell. I'm a big adherent of the "never sell" philosophy. Others are less sentimental.
I try to keep my firearms separate from any sort of financial necessity, specifically to avoid ever feeling pressure to sell. I'm a big adherent of the "never sell" philosophy.