Whilst its tempting to purchase one, especially if it could get you out of trouble one day, would you lose basic nav and map reading skills as a result?
The key with VFR flying is to use the GPS
as an aid to visual navigation, in the same way as you use NDB and VOR as an aid. Learn to fly the "old" way (well described by FTDK) then get a GPS. However always know the heading you are tracking, time at the last waypoint and exactly where you are on the map, even if you occasionally succumb to the temptation to "track crawl" via the GPS.