I don't think the colors flatter you, I don't like the super-stark contrast between top and bottom, and it simply looks too square on you. I think something that would accentuate your waist more would look waaaay better on you. I'd try to see if you can find something boldly yellow/orange colored, with a belt around your natural waist, or perhaps navy blue. If you like those colors at all, of couse
I think it's very flattering on you. The design, colours, belt.. I'd keep it. I know how you feel with being cheap, I barely spend anything on clothes if I can help it.
What matters most is how you feel in it. What does your husband (or significant other) say? Kids? Friends?
Like I said, I really like it on you. I love the 'busy' look. To me, it distracts from any flaws.