Well the CPU is really gonna hurt you there, If you're going to make cutbacks then go for a betters CPU and a worst GPU, as a GPU can be upgraded a lot more easily than a CPU. Aim for a mid range i5 or r5 CPU, the on board graphics are enough to run games like CS:GO as is and you can get a GPU later on, its what I did and I managed to get what I've got now by upgrading as and when I could.
Here's my PC spec's if you are interested. it only cost 359 at the start and was upgraded with a GPU, SSD & 3TB storage a few months after original purchase.
http://www.devj.uk/equipment