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Best server option for Django project

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I have a Django on Postgres web application. It's a business management software. There are no serious calculations going on, but there's a lot of requests from a database. Right now it's running on lightsail $5/month 1 core/1GB-ram debian server and it takes about 5 seconds to load some pages that require a lot of database read/write operations. I will try to optimize the algorithms in the future. In the mean time I am thinking about the options to upgrade the server. What has the most effect on the speed when it comes to databases. The next lightsail option only increases the amount of ram, and it shouldn't matter. For $20/month I can get 2 cores. Will it improve the performance? Or should I look for a more specific for DBs server option?

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