First of all, you just started. The first couple weeks are always rough before you find a team you're comfortable with. The nice part is that the first couple weeks, you get a free 50k each week to help out people who wasted all of their money on something right away before they had time to think it over (not that arena is a waste, but it could be better spent).
But seriously, you can get some decent 4k salary players for under 10k transfer prices, so wait for a little money to come in and you'll be fine. This is your first lesson in Buzzerbeater - be patient.
I agree that your most pressing need right now is for trainees. You have a couple players that are servicable in that they could be trained, but none that you would really want to train. Until you pick up some better players, you're probably stuck single position training inside skills with Canning, Hollis, and Dey, unless you need Dey to start elsewhere (he wouldn't train real fast anyway).
Throwing this season isn't a horrible choice anyway, you would have a tough time making the playoffs (though I think it could be done) and there's no great downside since you can't relegate. So I guess once you find a group of trainees you're happy with, don't spend any more and start saving to upgrade your starters next season.