I have an opportunity to purchase a mim fender strat 95 for 270 dollars. But i already have a squire strat. I was wondering if going from the squire to fender would be that much of a jump or if i should wait until my budgets a little bigger.
Depends if your squier is a standard. There are some really good Squiers out there.

Also, it depends on your amp.
2012 Gibson Les Paul Custom Classic
2001 Schecter C-1 Classic
2007 Yamaha APX500
Vox AC15CC1 w/ Eminence Tonkerlite
Assorted Pedals!

All for sale!

Call me Matt!
play the MIM strat and see what you think. as a rule the MIM will be a better guitar unless you have a japanese made squier. a MIM strat can be a really good guitar that will last you for a long time (and serve as a decent backup if you decide to get an american strat).