Good job and keep at it.
I don't know if your folks have given you the whole "driving safety" lecture but as an old fart myself I only ask you to remember a few things which I have told my son (20) and daughter (23):
Visibility : Well you sure picked the right color for sure on that account - don't change it!
Our cars have no center brake light and when that was introduced years ago it was for a very good reason and has probably reduced rear end collisions a good deal. Go buy the strongest brightest LED array (cheap) you can find and put it in pronto. By now you know the '74/5/6 cars got the larger taillights and that was the reason - even so you need to get the attention of all the cellphone zombies out there before they smack you in the rear.
Drive with your lights on for more visibility, just remember they are not switched to the ignition circuit so you have to turn them off when you shut down.
Before you spend another nickel on appearance items check the brakes, and that means everything, reservoir, lines, pads and the rear e-brake and drums & shoes. The rears are important and do not auto or self-adjust. See the FAQ articles on how to adjust (simple) and make sure your e-brake wires are in good condition. If you don't know how long the brake fluid has been in, flush it with new and bleed the system. It is is cloudy or muddy looking it has to be renewed since the seals in the MC, Slaves and the clutch rely on clean fluid to stay in good condition. Brake fluid is cheap.
This car has very nice understeer characteristics designed in - which means the car is very resistant to breaking it's rear end loose - but check your tires carefully and make sure to be careful in light rain or drizzle where the nose could break loose and skid in a tight turn that would otherwise be OK.
Remember, this is a small car - strong and very safe by '70's standards, but now that half the passenger cars are SUV's and people have a lot of distractions you have to be very very aware all the time. You're a young person and you have a lot to live for so be careful.
Lastly - save your money up and check with the local BMWCCA chapter or with others here on the FAQ as to where you could take a good driving/handling course.
A good course will not only make you a better driver, but may save your life because while you have quick reflexes and reactions, all you need is experience.