So, I am 25, graduated a year ago working full time since. I live with my parents. This gravy train will end in January when I will be moving in with my girlfriend.
Major achievements: paid about $30k of university debt (OSAP+LOC)
Salary: $65k + bonuses (i.e. around $2k twice a month after taxes)
Monthly liabilities:
car: $660 (financing 2.9%/y ends in feb 2013)
insurance: $250
minor debt: $150 (0% ends july 2010)
commute: $160
TOTAL: $1,220
Assets:
TFSA: $1,500
RRSP: $0
10% emergency: $9,000 (Savings acct, to be deposited to RRSP soon)
TFSA Target: $5,000
RRSP Room: $13,600
10% target: $10,000
I am trying to put away around $2.5k a month and fill up my TFSA and RRSP. In 2009 I should I accumulate about 12k more in RRSP. I want to fill this up so I can use the 25k for the "first home buyer". The TFSA is mainly for my boat when I retire (joking). My main obstacle is eating (drinking) out and vacations (for two).
As it stands right now I will be 10k short. I hope to make that up with my bonuses/raises next year.
September: deposited $2,100 - however I will be lucky to get $200 from the second paycheque since my visa is already at $600 (all monthly expenses are paid with the second paycheque each month).
I will update this 1-2 times per month. Any suggestions/comments will be nice.
Major achievements: paid about $30k of university debt (OSAP+LOC)
Salary: $65k + bonuses (i.e. around $2k twice a month after taxes)
Monthly liabilities:
car: $660 (financing 2.9%/y ends in feb 2013)
insurance: $250
minor debt: $150 (0% ends july 2010)
commute: $160
TOTAL: $1,220
Assets:
TFSA: $1,500
RRSP: $0
10% emergency: $9,000 (Savings acct, to be deposited to RRSP soon)
TFSA Target: $5,000
RRSP Room: $13,600
10% target: $10,000
I am trying to put away around $2.5k a month and fill up my TFSA and RRSP. In 2009 I should I accumulate about 12k more in RRSP. I want to fill this up so I can use the 25k for the "first home buyer". The TFSA is mainly for my boat when I retire (joking). My main obstacle is eating (drinking) out and vacations (for two).
As it stands right now I will be 10k short. I hope to make that up with my bonuses/raises next year.
September: deposited $2,100 - however I will be lucky to get $200 from the second paycheque since my visa is already at $600 (all monthly expenses are paid with the second paycheque each month).
I will update this 1-2 times per month. Any suggestions/comments will be nice.