I just joined after some lurking, and hoping to get your opinion. Previously, I hadn't even considered investing in RRSPs/TFSAs due to my debt - my goal was to pay that down first, then think about investing. However, given the income tax rate in Quebec (16%), I realized it may be beneficial to put some $$ in RRSPs instead of being so focused on paying down debt.
Salary around $35k/year
LoC: $7k at 7.5%
OSAP student loan: 15k
In the past year I've reduced my overall principle by over 12k, which I'm happy with though I could be more aggressive I realize.
I rent, pay less than $30/mo for cell, no car, limited extravagent expenses, but still enjoy lower budget vacations, (camping, weekend getaways, etc.)
Any thoughts regarding how I should proceed? I don't expect to stay in QC much more than another year, so eventually my tax bracket will certainly be lower.
Let me know what I forgot to mention!