New Monitor or upgrade to my CPU?

TheCheapGamer

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Dec 14, 2013
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Now I do apologize but i wasn't sure where to place this thread, as you can see I need help deciding between a new monitor and a new CPU.

Now as Christmas is around the corner my parents have opted for me to pay half towards something of my choice, so either a Intel i5-3340 or a Dell 23" 1080p monitor

My currents specs
Monitor : Fujitsu Siemens 1280x1024, VGA only, 60 Refresh rate (6-8 years old).
CPU : Intel G2030 3Ghz Dual Core LGA 1155
GPU MSI GTX 760 MicroATX
PSU Seasonic 520W 80+ Bronze
RAM 8GB 1600Mhz
OS Windows 8.1 64bit

Now the reason why I need to choose between the two options is because:

A) CPU : When gaming for example Battlefield 4 on a 64player server or when playing games such as DayZ (not well optimized) and Arma 3, I get incredibly bad framerates as my CPU reaches and stays between 85-98% usage constantly even when I use lower settings. This is bearable though, still getting around 30-45FPS on High on BF4 when playing on 32player servers and around 30FPS on Medium on 64 player servers.

B) Monitor : If and when I do happen to get frame spikes and dips which happen fairly often and I get 100FPS+ for a brief second or so (even with Vsync enabled) my screen begins to show black streaks and lines for a couple seconds. I suppose this is the the infamous 'screen-tearing'?
I presume this happens even though Vsync is enabled purely because the monitor is old and wasnt meant to be used for gaming as it was issued to my dad from his work hence the company name of the monitor : Fujitsu Siemens.

My budget here in South Africa is around R2500 or $250 or £145. Which is the price I have found either the monitor or the CPU as they are on special for Christmas savings kind of thing.

What would you recommend I buy?