recently i faced your same aspect...how to make my bike faster and spend amost zero. If you want to make it go faster top end, try getting a SMALLER rear sprocket...and for more acelleration get a BIGGER back. i'd suggest no bigger or smaller than 5 or 10 teeth. if u do you'll lose to much top, or bottom end. i've gone from 38 to 54 but i ride in very short tracks and inclosed areas. so i've gained a lot of acceration.
if your racing, and want to make the bike handle...two choices...learn to ride and play with suspension.
Or you could also get a bigger carby, new air filter and a new exhaust, but i guess it all depens on how much money you have and what parts you have on your bike now. me...i'd just get new rear sprockets. my bike is a cheap asian bike, and
my rear sprocket cost me $15. fantastic...but you may need to lenthen, or shorten your chain so be careful