Well not having a machine kind of settles it then, doesn't it? If you can't afford a machine right now, I would say sewing by hand is better than not sewing at all. I recently sewed Pat's tumbling block pillow by hand because it was easier to do with all those inset seams.
Long-term, I would not get anything finished, if I were only working by hand, so I'd say save towards a machine. Hope you get a good sale at Joann for the other goodies!