Budget Critique Request. Northern Alberta 26 Years Old

Gross $55k/year

OSAP $17.3k

Rent paid for by employer

5% gross deducted pension plan (employer match)

$3200 take home per month

MONTHLY BUDGET

TFSA $300

OSAP $200

Groceries/clothing $400

Gas $200 (min $80 variable)

Truck Payment $450*

Insurance $150*

Vehicle Maintenance/Tires Fund $100

Cell Phone/NHL Gamecenter $100

Emergency Fund Build $200

2017 Travel $400

New Guitar Fund $50

Total: 2550

Remainder: $650 (additional debt payment/emergency fund)

• A truck is required in the conditions up here. I haven't purchased one yet but figured $450 a month was a fair budget to quickly pay off a decent used truck.

• 2017 travel concerns an important life goal. 2 month backpacking trip over summer vacation. Overestimating required budget, leftover goes to debt.

• I know I'm paying too much for cell phone. Will try to buy out my contract this summer.

• Anything time sensitive becomes OSAP payment eventually (travel fund, truck payment, emerg fund build)

• Remember TFSA is in addition to 10% pension. Works out to 16% gross to retirement. Hoping to ramp that up once debts are down.