'Moneymaxxing' isn't a trend, it's a 'cultural shift,' financial advisor says — here's how to get started

ViewApart | iStock | Getty ImagesAs consumers look for ways to strengthen their financial footing, a new trend is gaining steam on social media — and, for once, it doesn't involve buying anything. "Moneymaxxing," a movement aimed at financial improvement, encourages people to maximize their budgets by trimming recurring expenses, redeeming rewards points — a related trend known as "pointsmaxxing" — and stashing extra cash in a high‑yield savings account. It's the latest iteration of the viral "maxxing" trend: see vacationmaxxing to make the most of paid time off, sleepmaxxing to optimize rest and even fibermaxxing, the term for loading up on fiber-rich food. "Moneymaxxing is now about getting the absolute most out of your money by being proactive, resourceful, and creative to achieve a life of abundance," said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, based in Irvine, California. It's a "cultural shift," Sun said, one that's "not about living with less, but rather it's about seeking more for yourself."'Frugality made cool again'Moneymaxxing is "frugality made cool again — I love it," said Brad Klontz, a Boulder, Colorado-based psychologist and certi...