In a remarkable display of resilience and determination, Carly DeFelice, a 38-year-old community manager from Austin, Texas, has transformed her financial situation after a devastating setback during the 2008 global financial crisis. DeFelice's story serves as an inspiration to millennials worldwide who strive to achieve financial independence.

DeFelice's journey to financial stability began early in her life, shaped by the frugal habits of her parents, who owned a struggling business. Taking after them, she diligently saved almost every dollar she earned from various jobs, including babysitting and refereeing kids' soccer games. By her junior year of college in 2007, DeFelice had amassed considerable savings, having earned $63,000 and receiving a $500-per-month bonus from her employer.

However, the promising start soon turned into a nightmare as the company went bankrupt shortly after DeFelice purchased a brand-new Mercedes-Benz. She found herself without a job, burdened by $35,000 in debt consisting of car payments and a student loan. Determined to learn from her mistakes, DeFelice embarked on a journey of frugality and self-improvement.

After graduating in 2008, DeFelice focused on paying off her debts and building a strong financial foundation. By age 26, she had achieved a version of financial independence known as "Coast FIRE," with $100,000 in investments and no debt. Despite her modest annual salary of $58,000, she continued to save and invest, steadily growing her portfolio to approximately $400,000.

DeFelice's financial journey took an unexpected turn in 2012 when she started her own business, teaching a financial crash course called "Best Money Class Ever." Charging customers $150 per class, DeFelice aimed to educate young adults about money management, drawing on her own experiences and expertise. Additionally, she became interested in the FIRE movement, which advocates for early retirement through disciplined saving and investing.

While continuing to live on a modest budget, DeFelice took a sabbatical in 2019 after experiencing burnout. Selling all her possessions, including her Mercedes, she embarked on a six-month break, exploring different locations and experiencing tiny living in a micro-sized Airbnb in Hawaii. Eventually, she purchased a travel trailer and an SUV, affording her the flexibility to travel while maintaining a sense of community back in Austin.

DeFelice's disciplined financial approach extends into her daily life. She meticulously budgets her expenses, taking out a set amount of cash each week for essential costs and using the remaining funds for social activities and personal indulgences. By staying vigilant and saving diligently, she has been able to maintain a low-cost lifestyle while growing her investments.

Looking ahead, DeFelice aims to reach her FIRE number, with a target of $1 million by age 45. This ambitious goal will allow her to withdraw about $40,000 annually and achieve total financial independence. She plans to continue helping others achieve financial independence through her business and hopes to inspire individuals burdened by debt and financial struggles.

Carly DeFelice's story serves as a testament to the power of resilience, frugality, and a long-term financial mindset. Her remarkable journey from financial setback to substantial savings showcases the potential for individuals to turn their financial lives around and build a secure future. As she shares her knowledge and experiences, DeFelice is empowering others to take control of their finances and achieve their own financial independence.