Did PP do a software update or why am I have so many glitches?

Of course, if you can afford a new computer...  You might also find a decent referb mac from Apple, or a windows machine that although will have a learning curve, is generally less expensive that apples..  Just check the minimum recommended specs for premiere... 

https://helpx.adobe.com/premiere-pro/system-requirements.html#gpu-acceleration

and post any questions here.  

a proxy workflow is not THAT complicated....  select a few clips in the bin/project window, control click and choose proxy: create proxy: format:quicktime: and choose preset: prores low resolution proxy.    You enable proxies in both the source and program monitor by mapping "toggle proxies" to the shortcuts beneath either monitor.  click on "toggle proxies" and it should turn blue indicating you're accessing the proxies rather than the full resolution camera original...  Lots of nuances possible here, but this should enable you to test this workflow to see if it allows you to work.   

The fact is, the M1 macs have a new way of handling RAM and although I take everything Apple says with a large grain of salt, it may be able to work.  And, it's crucial you leave as much empty space on the startup drive as possible, a minimum of 20% free space but more is probably better.    All modern operating systems swap data to the startup drive when they're running out of usable RAM and since the M1 macs use SSD's for a startup drive, this should be relatively unobtrusive.  And don't work with any other apps running.    Make sure your working with the laptop connected to AC not running off battery.   And try a proxy workflow...  And see if you're able to work...  I've got a 2012 MacBook Pro maxed out at 16 gigs of RAM that I use when I need to work at a clients...  a low res Proxy workflow makes this possible working with 4K material...   And don't think you ever told us what your source clip properties are.  Certain formats are difficult to work with and making prores proxy files may give you better performance.   Oh yeah, working with your media on an external SSD drive may also help...  No guarantees, but worth some testing.  Post back with any questions.  

I understand but I've made over 40 videos using my laptop until yesterday so it wasn't too inadequate.

I googled the proxy workflow as you suggested and pretty much didn't understand very much of what it said.  It was way over my head technically so its not a process I can pursue as I really don't understand what to do.

well maybe you asked the wrong person...  In New York City, we have a saying:  ask 3 people for directions and you'll get 3 answers, all of them wrong...     

here's the thing.  Not everyone can afford to upgrade to a better computer.  Trying a proxy workflow may allow Dorothy to get over the hump.  I know it's not ideal but worth a shot.

At the time I got PP a local videographer recommended PP and seemed to think my laptop was adequate for the job who also used PP.  I suppose it could have topped out.

As Michael Grenadier stated, that M1 MacBook Pro with only its base specs is underspecced, not just underpowered, for the source material that you're trying to work on. It would require a much more powerful, much larger and much more expensive computer system to be handled properly.

Thx, I will.