Unless the money situation is really desparate I'd hang onto the old sail and get a new yankee.
In the SSCA thread on cutters Robert Perry gave some excelent advice in particular don't make the mistake of cutting the yankee too high, so that the clew is above 'reach up and grab it' height.
ps - what's your home port ?
pps - love to see a pic of your boat.
“Give a man a fire and he's warm for a day, but set fire to him and he's warm for the rest of his life.” Terry Pratchett