Author Topic: Just turned 26 - How am I doing?  (Read 3915 times)


  • 5 O'Clock Shadow
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Just turned 26 - How am I doing?
« on: November 06, 2013, 07:05:38 PM »
Hey all, just looking to get some opinions on how I'm doing. I've always been somewhat frugal but now I'm a couple years into my career, trying to balance saving a boat load vs having some fun. Here's my stats


    Just turned 26
    Live in Calgary, AB

My job

    55k/yr (since June) working in HR. This was my first HR job out of school and I've been at the company 2.75 yrs
    Love my job, am underpaid for what I contribute but they invest considerably in my development and I get to be involved in many different facets of the business so I'm thinking long term. Have been promoted and got a few raises as I started at 40k. Receive excellent perf reviews
    Will be looking for an increase to 60k plus put on the bonus program (7.5%) for next year.
    4% pension match, would increase to 6% with the bump I'm hoping for
    Contributing 12% (incl match) to Pens/RRSP/TFSA


    Pension: 4,700
    RRSP: 3,500
    Company stock: 550
    TFSA: 3,700
    Cash: ~8,000
    Emergency Fund: Using YNAB and on last months income. Will fund more fully after loan is killed. Job is secure and there's several categories/TFSA I could raid if needed
    Savings for 1 month trip to Africa in 2014: 3300 (target 5k)


    I've been working to kill the student loan this year
    Started the year at 12,000 now at ~4500 with 1700 in payments coming this month from my 3rd pay in Nov plus my budgeted pmt Feels great to see the end in sight. I have it charted in excel and the diff this year is staggering. Can't wait to have it done.
    A provincial student loan of 2500, interest rate is only 2.5% so I'm not in a rush and paying the min

In short, net worth is ~13,500. I'm 2.5 years into my career making 55k and hoping for a decent increase at year end. I just turned 26. I'm getting near the end of my student loan. How am I doing? What can I improve on?


  • Handlebar Stache
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Re: Just turned 26 - How am I doing?
« Reply #1 on: November 07, 2013, 09:31:31 AM »
Hard to say how you're doing until you Post your budget. Maybe we can find a way to cut some more spending and accelerate your goals!


  • 5 O'Clock Shadow
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  • Posts: 17
  • Location: Northern VA/D.C.
Re: Just turned 26 - How am I doing?
« Reply #2 on: November 09, 2013, 11:50:48 AM »
If you don't mind sharing, what's your position in HR?  I just recently entered the field as an assistant and am exploring several paths.  I'm in a similar position - part of an exponentially growing company and I get to learn much about different aspects of the business and industry.


  • 5 O'Clock Shadow
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  • Posts: 11
Re: Just turned 26 - How am I doing?
« Reply #3 on: November 10, 2013, 09:45:30 PM »
Looks like you're doing fine with that income at your age. Of course, this all depends on your budget, but $55k a year is certainly a good place to start. What kind of education do you have?


  • Handlebar Stache
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  • Location: Mid-Sized Southern City
Re: Just turned 26 - How am I doing?
« Reply #4 on: November 11, 2013, 07:27:54 AM »
Agreed that we need to see your skivvies..... er... budget before we can fully comment.


Wow, a phone plan for fifteen bucks!