The eternal question, binoculars or a small telescope?
It depends on you really. If you have already learned the constellations and are yearning for a look at Jupiter, open star clusters, globulars, nebulae, and the shadows of the Moon then perhaps getting that 4.5 isn't such a bad idea.
Be aware though that someday you will want binoculars. A 7x50 pair will be easy to hold as one reclines in an easy chair and scans the Milky Way. There are actually many things that look better through binoculars. The Pleiades and the Coathanger come to mind. Held steady one can see the moons of Jupiter move about the tiny disc of the planet from day to day, large Lunar features, and many other asterisms and large clusters are available to view as well.
I started out with binoculars as did many others and saving up a bit more for a 6" scope is not bad advice. But there is no wrong way to do this and if you just can't hold out a small scope will give you many hours of pleasure as well as being easy to manage. Again though, someday you too will be hit with the overwhelming desire to see more and your trusty little scope will be left behind as you search for ever larger instruments to satisfy your hunger for more detail and dimmer objects.
Good luck on your future purchase,
L
Good luck
L