Hello All,

I'm seeking advice on paying down my LOC debts. Here's my situation.

Single living with girlfriend. We are currently renting in Toronto.

My Income: ~$130,000/yr gross

RRSP: currently at $34,000 contributing $1000/mth with the addition of employer maching of~$240/mth. I mainly do this to help with income tax and to get the employer contribution. Also to atleast get to $25,000 for first time homebuyers.

TFSA: Currently at $1000 just started contributing $500/mth

LOC: $80,000 ($50,000 line @prime +1%, 30,000 @ prime +2%) professional student LOC. Averaging about $1200-$1500/month in payments towards LOC.

Credit cards: currently at $3000, but will pay this off next pay check.

My portion of rent is $1100/month. No mortgage at all but looking into purchasing something. Essentially, I have been putting everything towards LOC that is left over. I find I am struggling sticking to a budget.

Is what I am paying towards LOC sufficient? Should I stop contributing to TFSA or RRSP? Should I increase or decrease these? Is there value in saving and trying to pay down debt at the same time or should I focus on debt?

I am 2.5 years out of school and feel so bogged down with the debt. I have no house so no equity building and in the GTA it is almost impossible to find an affordable house. Just don't know what to do or if I am approaching this correctly. I feel so far behind all my other friends and family.

Thanks for any help or comments.

Ren