It depends on what you mean by "wait for 7000 series". I believe ATI is on schedule for a Q4 2011 debut, and Nvidia will be ready by Q1 2012
If you intend on purchasing a 6000 ATI / 500 Nvidia series gpu, you could save a significant amount of money by waiting for the next generation to come out. Since you are waiting for enough money to purchase the card by November, I'd say the wait is definitely worth it. When the new cards come out, you could buy 2 cards instead of one and have crossfire for additional horsepower.
If you are only interested in one graphics card to carry you on your way, I would still suggest waiting. A few months of bad gaming isn't that bad. Wait a month for the new hotness to step foot into your case
Also, a fun game is usually fun regardless of the graphics. Keep this in mind when you're budgeting. I upgraded the hell out of my computer, and I still find myself playing the same low gpu intensive games - DAMN YOU FARMVILLE!