Carly DeFelice Makes $58,000 a Year Living in Austin, Texas
Carly DeFelice, 38, works as a community manager at a coworking space in Austin, Texas, and she’s a master at budgeting. She managed to pay off $35,000 of debt and save over $100,000 in investments by the time she was 26 years old. Now, she’s sitting on about $400,000 in cash and investments, all while earning a salary of $58,000.
Planning Meals and Avoiding Impulse Purchases
DeFelice is meticulous about her spending and begins it each week with a $120 discretionary budget, which covers groceries and other basic expenses. In the month of September, she only spent $123.65 on groceries, attributing her low expense to the fact that she diligently plans her meals for the week.
“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.”
By sticking to her planned meals, setting aside a designated amount for groceries, and avoiding impulse purchases, DeFelice is able to stay within her budget.
When it comes to going out with friends, DeFelice remains frugal yet sociable. She sets aside a $50 line item in her budget for socializing, and takes the proactive approach to plan out her evenings while out with friends. She’s found a balance between enjoying her social life and being prudent with her spending.
For DeFelice, balancing her social life and financial goals is about realizing that the experience with her friends is what ultimately matters. It’s not about the money spent but the meaningful connections that matter most. Her approach to budgeting has allowed her to save money while still maintaining meaningful relationships.
Conclusion
Carly DeFelice has managed to expertly handle her finances, even with a modest annual income. By sticking to her carefully planned budget and avoiding impulsive spending, she is able to enjoy a social life without breaking the bank. Her frugality and intentionality with her money have allowed her not only to save money but also to form deeper connections with those around her. Her approach serves as a testament to the fact that financial stability and a rich social life can go hand in hand.
By spending with purpose, she has mastered the art of being incredibly social while also being good at saving money. Her method, which she shares in her online personal finance course, Best Money Class Ever, proves that with careful planning, even those on modest incomes can make their finances work for them.
