Will budget Schiit Modi3 help?


As retiree with limited experience w/ digital and a very small budget I need your help.
Will the new Schiit Modi3 improve the sound from my 3 year old Yamaha BD-S677 BluRay player, as well as the digital output from my Sony HDTV (currently using FiiO Dac3 mini-dac for tv because no analogue output)?
Thank you,
Mike
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Yes, no reason not to use it for both sources. Just that improvement will likely be different depending on source. 

I own the Yahame BD-681. It has selection for CD playback, removing video in path. If your model is similar, it might prove out that using the DAC for music and the analog out for BD movies might prove most advantageous.  
Might get a more "analog sound" with the multi-bit version. I would save up a few more clams for that one if possible.
The Modi3 sells for $99, the multi-bit version for $249. Quite a substantial % increase. Not to say it isn't worth it, that would depend on intended use and funds available. 
The Modi 3 multibit is discontinued and no longer on their website. You have to step up to the Bifrost multibit at $599 to get multibit from Schiit.
Mesch, I would most definitely try the BD player using digital output to dac and compare to analogue out of player for bothe cds and bds.