PC, What to upgrade first?

I'm looking to upgrade my very average Desktop, I run Photoshop, C4D, Flstudio on it regularly. I also play a lot of High res Games and often record using Fraps too.

My PC specs:
CPU: i5-2320 3.0
HDD: 2T
RAM: 8G
ODD: DVD RW
OS: Win8 MM

I'm not sure if all of that is useful, I'm pretty clueless about this. Anyway, I desperately need more speed and Performance as It's pretty slow to use now. But I really have no idea what to upgrade, or what specifically to upgrade to.

What's best to upgrade First?

 

You're playing hing res games? I guess you should upgrade your video card first. That's what my bestfriend did. Reduces lag so you could enjoy your game with full quality.

 

GRaphics card?

 

Definitely graphics card. Depending on budget, you could get something like a 750Ti from nVidia or if you like AMD there's the R9 280, both around $250. How much are you looking to spend?

 

I would always upgrade the graphics card first, or an SSD if you want faster loading times.

 

If this is a stock computer (pre-built) - please take note that if you are upgrading your graphics card like everyone suggests you may also need to upgrade your PSU!

As everyone has stated, the graphics card is the best route at the moment. If you give us a price range and tell us what your power-supply's wattage output is, we should be able to help you upgrade piece-meal.

 

Upgrading your PSU is something you might have to look at. Although, a 750Ti only requires 60W so nVidia recommends a 300W PSU.