The timing belt & water pump are likely just recommended service based on the mileage/age of your car. If you drive until the timing belt fails, it can cause massive damage to the engine, so as a preventive measure they tell you to replace. They have to pull the water pump to get to the timing belt so you might as well pop in a new one as the part itself is (relatively) cheap compared to the labor to tear it all back apart to replace.

You can get a second opinion, but I think they're telling you to replace based on a schedule of routine maintenance, not because something's actually failing.

Rear breaks-- that's another story-- Yea, repair/maintenance costs suck, but at least you don't have a car payment. There comes a point where a used car starts costing you more in nickle/dime repairs then a monthly pmt and the security a warranty provides. Mines 6 years old and I'm ready for new wheels, but am going to try and hold out another year, it has fairly low miles and has been pretty dependable.

Shannon