I don't think buying yarn is ever a mistake!
Even if you don't have the perfect project for it *now*, maybe you will later on! Besides- I am a beginning knitter too, and I can tell you that my family and friends have been awed by my "talent" even when I do scarves or other simple things! Have fun with it- otherwise it's no longer a hobby, it's work. And unpaid work, at that!
Mommy to two wonderful girls
"I don't have to conform to the vagaries of time and space, I'm a loony!" -Campbell Bain (David Tennant) 'Takin' Over the Asylum'
OTN: Cabled Sweater
, arm warmers, kids' clothes