When it comes to establishing her bona fides as an expert saver and budgeter, Carly DeFelice, who runs online personal finance course Best Money Class Ever, has some big numbers to point to. Between her college graduation in 2008 and her 26th birthday, she paid off $35,000 in debt and stashed more than $100,000 in investments.
Now 38 and a community manager at a coworking space in Austin, Texas, DeFelice has boosted that number to about $400,000 in cash and investments, without ever making much more in a year than her current salary of $58,000.
But as DeFelice continues to practice the budgeting methods that got her out of debt and allowed her to build wealth, the smaller numbers may be even more impressive.
Consider, for instance, that in September, DeFelice spent just $123.65 on groceries. Given the current state of inflation, that’s not a hard figure to reach on a single trip.
“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.”
Planning meals and avoiding impulse purchases
DeFelice’s grocery money comes out of her weekly discretionary budget of $120, which she carries 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.”
That means that if she wants to have any fun, sticking to her grocery budget is imperative. She starts by planning all her meals out for the week, which generally includes large-batch dinners she can prep in advance.
The week that Make It interviewed DeFelice, the menu included cereal for breakfast; a turkey sandwich, chips and an apple for lunch; and a salmon, avocado and rice bowl for dinner.
The ingredients DeFelice needed to put those meals together for the week all went down in the same…
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