Would it be okay to replace the worn out shocks with these http://www.americanmuscle.com/mustan...k-1994-04.html ?

Then later on down the road (when i get enough$$) replace the front.
I only ask cause the rear shocks are blown and squeak. I was wondering if there would be a ride height difference?

 

They will be better than stock. Shocks will not change ride height

 

Those are the bottom of the line in aftermarket shocks imo. but much better that the stock shocks. Have you looked at the koni's at all? I ran some of the tokico hp for a while on my 06. What kind of warranty do they carry?

 

No ride height change, and yes you can do just the back for now.