I am looking for some advice from some bright individuals like you all. I am mainly just unsure about what I should be doing with my money.
Particulars:
Age 25 - B.Commerce graduate
currently make 45k for an insurance company (pathetic wage considering my location)
living at home
expenses = cell phone bill ($60), gas for vehicle, insurance on vehicle, clothes, going out/drinking, etc
Assets:
8k - vehicle - 2010 honda civic
12k - market portolfio - TFSA
2k - rrsp with CIBC
2k - DC pension plan with my current company
1k - chequing
5k - line of credit
Liabilities
8k - canada student loan - 3% interest rate
9k - alberta student loan - 5% interest rate
The student loan has interest deferred until December/14 as I applied for the repayment assistance plan. Currently, I was thinking of just devoting all my energy into paying off as much of the student loans as I can before the interest payments start again. I would than devote tiny payments of $25 towards my rrsp and TFSA bi weekly. However, as we all know, 3 and/or 5% aren't very decent returns on capital. Does anyone have any better ideas for me? Also keep in mind that, at the end of the day, I feel like a kid in my parents home. I would really like to get the F out of here.
Comment as you please. Thank you.