Touching on NavyShooter's points... I'd just like to add info to it.. now for my ramble.
-1) Max out your TFSA first, RRSP's only defer tax and depending on your pension and retirement plan the tax savings from RRSP's may bite you later.
A read on TFSA vs RRSP
Also please do not save, invest this money! (Semantics lol)
How much to save. I do not agree with save x% of your income anymore generally, I follow the execute a plan to obtain your dream model these days. This link will help with that.
Now when looking at how much you save per month remember the pension contributions. That can be counted towards the retirement fund and drastically changes how much you need to save. So potentially depending on how much you want to live off of in retirement you only need a touch more to obtain it, the rest can go to medium term goals. Also if they have "group" retirement programs.. take advantage of them especially if they come off of your payroll you will never miss it! Between my CN rail pension, my CN share program and group RRSP I am saving $3,100/mo on average and I do not even notice. What you do not realize you have, you will not be tempted to spend, I have all my statements etc go straight to my spam box so I never see them so the temptation is not there.
A better read regarding not spending your cash.
-2) yep bad debt is evil. But good debt isnt, invest in good debt only.
A form of good debt is using a loan to fund your RRSP, but it is high risk (albeit the interest on the loan is a tax write off when you invest it in an RRSP and you could use that money for the first time homebuyers plan to get a house).
-3) Buying a home is generally a good idea.. but sometimes renting is cheaper in the long run due to land taxes, insurance and repairs. Where I live my house was $270k and I can rent it out for $3,000/mo (it has a legal suite fyi) so it makes way more sense to buy here... but somewhere else it makes more sense to rent so, double check, you never know but sometimes not buying makes sense.
Also some pundits are thinking realty is going to crash soon, I would take it with salt.. long term realty is awesome and these little dips are nothing if your going to be there 25 years.. but if you plan on selling relatively soon.. beware.
Now something my wife and I plan on doing is buying up houses as we move and renting them out.. so if you can do that and make money it becomes very beneficial. My wife and I have decided that I will stay with CN for a couple years until I have the money lying around to buy another house wherever the RCN puts me assuming they will have me, without touching the equity in the house we have now. Then if I get posted again relatively quickly I can pull the equity out of the first house to buy a third or if renting is not profitable on one of the places I'll sell it. But a decent calculator for rent profitability, cause let's face it the stereotype is the Armed forces likes shipping guys around.
-4) This is my own little point, it is only money, never forget that. Plan, budget and prepare for everything financially, but do not become a scrooge. Three years ago or so if you would have asked my networth when I first joined this site.. I'd say 5-10k tops, now my networth is roughly $125,000 and I am 32 well 33 in a month but any rate.. 3 years ago I was a financial deadbeat, now not so much. Fortunes come and go, so do not get to caught up in it, do your best and leave the rest to God/fate/destiny whatever you want to call it. I personally believe you will be richer for it and not just financially.
P.s I enjoy do financial mental gymnastics, this is addressed to anyone reading who wants a nobodies advice regarding money. Talk to a financial planner/adviser for proper advice.