I was prescribed iron pills but chose to stop, is it bad to have anemia and have low levels of iron? If so, what's the worst that can happen.?

Iron deficiency. Low iron makes you tired, pale, lightheaded, and short of breath. It can cause 'pica' (craving something unusual). The most common symptom is munching ice. Additional symptoms include foggy thinking, poor hair and nail growth, itching, and restless legs. Pregnant women with low iron can have children with lower iq scores than if they had adequate iron stores.
Low levels of iron. And anemia go together. Should take the iron as described by your dr. Will need to be checked out to make sure that you have restored the normal level of ion in the blood.