Dont worry u still got time. Like 2 months to cap.
No need for elixir really, many have cap already at 41 without it. Just be efficient when u exp if u have minimum time of play. Dun forget ur free daily elix and get a good group.

Like many said better use it for premium character. Its a worthy investment.
10 auction slots is a must. Bigger bag.
Also u get lvl1-5-10-15 armor, shoe, sleeve the best for pvp at that lvl.
Or you might want to save for next plat pinks like we had combo pink gun with pink plat shield, we will probably see something similar again later. Maybe even sooner since we dont have pink yet introduced in voleria map...