I think that's a fairly decent set of components save for the monitor - I don't like it. I don't know the make (although that's irrelevant) but it's small, the resolution pretty poor in this day and age and its response time is slow.
Nevertheless, I have to bear in mind that you're on a very tight budget and you're not going to be playing games at any strenuous settings. Still, if it IS possible, I'd save a bit more and pick a better monitor when you have a bit more money. If it's possible...