I've got several accounts. I know, I'm lucky to be able to afford them.
One account I use for testing when it's not clear if a newcomer could achieve a certain task (mainly if taking part in a CG is viable). Anyway, starting again is massive fun, you'll be wiser so it's not as hard as the your first CMDR found it but it is great blasting around the started system in sidewinder.
If you have the funds I'd recommend getting a second account. You just need a separate email (I just get an extra gmail account - setup in about a minute). Once you buy the new account you can just log out of your account in the loader and log in as your new account. Not sure if this works for xBox users (I'm on a PC).
For what it is Elite is very cheap, no subscription just a season pass to effectively massively increase where you can go in the game. I have no issue adding to FD's funds with extra accounts but as I said I'm lucky enough to be able to afford it.
Even if you can't get another account starting from scratch is nothing to be afraid of, it really is fun.
This Post says it all.