How financial coach spends only $124 a month for groceries

How financial coach spends only $124 a month for groceries

How financial coach spends only $124 a month for groceries

Original report from Ryan Ermey

In establishing her credentials as an adept saver and budgeter, Carly DeFelice, the founder of the online personal finance course Best Money Class Ever, has notable achievements to showcase. From her college graduation in 2008 until her 26th birthday, she managed to pay off $35,000 in debt and accumulated over $100,000 in investments.

Carly DeFelice known for her expertise in personal finance and budgeting. She is the founder of the online personal finance course "Best Money Class Ever."

At the age of 38, currently working as a community manager at a coworking space in Austin, Texas, Carly DeFelice has increased her financial portfolio to approximately $400,000 in cash and investments. Remarkably, this growth has been achieved without earning significantly more than her current annual salary of $58,000.

As Carly DeFelice persists in employing the budgeting strategies that helped her eliminate debt and accumulate wealth, the smaller, ongoing achievements may prove to be even more impressive.

For instance, in September, DeFelice managed to spend just $123.65 on groceries. Considering the current state of inflation, achieving such a low figure on a single shopping trip is no small feat.

“I estimate I spend a few thousand less than the average person by being intentional with writing out my meals and planning what I’m going to have for the week,” DeFelice tells CNBC Make It. “My secret tip is to always have a grocery list.”

Also read: Escaping the 9 to 5: Jordan Mackey’s Blueprint to YouTube Riches

Secrets to saving

Carly DeFelice allocates her grocery budget from her weekly discretionary fund of $120, which she manages in cash.

“This is what I consider operating expenses. So I buy my necessities first — groceries, gas, my car — and then whatever was left would be happy hours and hanging out with friends, maybe a new shirt or small gifts.”

This implies that adhering to her grocery budget is crucial if she wants to have any discretionary spending for leisure activities. DeFelice initiates her approach by meticulously planning all her meals for the week, often opting for large-batch dinners that she can prepare in advance.

During the week of the interview with Make It, her menu comprised cereal for breakfast; a turkey sandwich, chips, and an apple for lunch; and a salmon, avocado, and rice bowl for dinner. DeFelice recorded all the necessary ingredients for these meals in the same journal she uses to track her budget, and she brought a corresponding list with her to the grocery store.

Also read: From Home to Fortune: The Wealth Academy Roadmap

Whether it’s groceries or a night out, Carly DeFelice emphasizes that being intentional about your spending makes it less likely to indulge in things that lack ultimate significance to you.

“I have mastered the art of being incredibly social, having an amazing social life and also being good at saving my money,” she says. “And I think the way that I’ve found balance is I realized that it is the experience with my friends that matters.”

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