In therms of Gaming or Graphical Design : GPU is the most important part of your pc.
In therms of Multitasking and general usage of the PC: CPU is the most important
I would honestly recommend you to hold on the money and just save for a brand new PC build. Honestly when you upgrade your CPU you must aswel upgrade your Motherboard to a different socket and the Ram Memories in most of the cases.
Here is a comparisson between your CPU and a CPU of these days...
http://cpu.userbenchmark.com/Compare/Intel-Core-i5-6600K-vs-Intel-Core-i5-2400/3503vs803
Any upgrade will be pointless for now, since your CPU is slow and it will bottleneck any descent top tier graphic cards of these days.
So... basically: To finish this off, Save all the money...