I'm not so convinced you should change it. Binoculars are a good thing, but everyone needs a first telescope at some point. I'm 29, I'm an intermediate level amateur, and I don't regret my first telescope - and yours is significantly better than mine was. You can't see Saturn's rings or the Great Red Spot on Jupiter with a pair of binoculars, so if I hadn't gotten that crappy 60mm refractor, I don't know when I would have first seen them.
I'm a guy and I'm not afraid to admit that my first scope gave me the giggles when I first used it (as did my second scope, which is now a year old). Even though there were only 6 objects that I could really see with it (the Moon, Venus, Mars, Jupiter, Saturn, and the Sun), I still enjoyed using it. And there is something to be said for the ability to run outside at a moment's notice if you're sitting at home and decide you want to use it.
A pair of binoculars and a star chart is undoubtably the best path to becoming a serious amateur, but the pay-off to starting with that approach doesn't come until several years and a lot more money later. With a crappy scope, there is an instant payoff, just not a big payoff (viewed through the eyes of a serious amateur, it's not much of a payoff - but I guarantee you'll remember forever the first time you see Saturn's rings with it). I view my first telescope the same way I view my first car: it was a piece of crap, but I still loved it. And like you said: it was mine. And I still have that scope, btw, even though I haven't used it in 2 years.
edit: turbo-1 also advocates joining an astronomy club. I see his point, but my one experience with an astronomy club was at a Boy Scout camp when I was perhaps 14. Since there were a few people around, I only got 30 seconds at the eyepiece (it was Saturn and I still remember it well), but it was enough to say 'gee-wiz, I want one'. So go to an astronomy club meeting if that is feasible for you, but I suspect you'll end up where I was: still wanting your own telescope, no matter how crappy others say it is.