The present study aims to establish a simple approach involving multi-field multinuclear longitudinal relaxation (R-1) analysis of the solvents to decipher solute-solvent interactions during the solvation of model carbohydrates in aqueous trifluoroethanol (TFE) co-solvent systems (TFE:D2O). The behavior of D2O and TFE is monitored around beta-CD (beta-cyclodextrin) and glucose through R-1D (H-2) and R-1F (F-19), respectively. Correlation times (tau(c)) are estimated for D2O and TFE for various \% (v/v) compositions of TFE:D2O mixtures. The differential trends of the R-1 or tau(c) ratio for D2O and TFE (in the presence and absence of carbohydrates) revealed that both beta-CD and glucose undergo selective solvation by TFE in comparison to D2O. Owing to its encapsulation properties, beta-CD exhibited a comparatively higher tendency to undergo solvation by TFE than glucose. The maximum transfer of solute bound water to bulk solvent appears in the 20-30\% (v/v) TFE range. The current approach emerges as being straightforward in contrast to traditional methods that primarily focus on solute behavior to unravel the preferential solvation dynamics.