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As consumers look for ways to strengthen their financial footing<\/a>, a new trend is gaining steam on social media<\/a> \u2014 and, for once, it doesn’t involve buying anything. <\/p>\n “Moneymaxxing<\/a>,” a movement aimed at financial improvement, encourages people to maximize their budgets by trimming recurring expenses, redeeming rewards points \u2014 a related trend known as “pointsmaxxing” \u2014 and stashing extra cash in a high\u2011yield savings account. <\/p>\n 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. <\/p>\n “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<\/a>, 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.”<\/p>\n ‘Frugality made cool again’<\/p>\n Moneymaxxing is “frugality made cool again \u2014 I love it,” said Brad Klontz, a Boulder, Colorado-based psychologist and certified financial planner.<\/p>\n “It’s better than credit-card maxxing, which is what we’ve been doing for way too long,” said Klontz, who is also managing principal of YMW Advisors and a member of CNBC’s\u00a0Financial Advisor Council<\/a>.<\/p>\n Americans have been racking up more and more\u00a0credit card debt<\/a>. Credit card balances increased 4.4% year over year to a collective $1.14 trillion, according to a new,\u00a0quarterly credit industry\u00a0insights report\u00a0from TransUnion. The average balance per consumer now stands at $6,610, also up 2.1% year over year.<\/p>\n Read more CNBC personal finance coverage<\/p>\n Largely because of rising costs,\u00a0young adults are having a hard time making it on their own, other studies show. Over half of millennials and 72% of Gen Zers still rely on their parents for financial support, according to Northwestern Mutual’s\u00a02026 Planning and Progress study<\/a>. Now, on average, young adults don’t expect to be financially independent <\/a>until age 37.<\/p>\n It’s a movement that may have staying power, according to Jack Howard, head of money wellness and a behavioral finance expert at Ally Bank.<\/p>\n “Instead of jumping from one money trend to the next in search of a quick fix, moneymaxxing focuses on creating everyday habits to create long-term financial success,” she said. <\/p>\n How to start moneymaxxing<\/p>\n Howard recommends starting with a clear assessment of your cash flow, including both income and recurring expenses. While there are several tried-and-true techniques for creating a basic budget<\/a>, the most effective approach helps to “identify spending patterns that no longer support your financial goals,” she said.<\/p>\n From there, set specific \u2014 and attainable \u2014 financial priorities. Whether the objective is to reduce debt or build a savings cushion, having a clear milestone can help you stay motivated, she said. <\/p>\n Automating key financial moves, such as transfers into savings or extra payments toward outstanding balances, can also help streamline a new routine and maintain positive behaviors. “Lasting financial progress comes from the habits you practice every day,” Howard said. <\/p>\n Technology can also play a role, according to Sun, who is a member of\u00a0CNBC’s Financial Advisor Council<\/a>.\u00a0“Financial stress can be turned around by finding solutions,” she said. AI-powered budgeting and financial planning tools can help identify spending patterns, uncover potential savings opportunities and suggest strategies tailored to your goals. <\/p>\n Klontz also suggests being intentional about your social media environment. Curating a feed that includes people with similar financial aspirations can provide both practical ideas and a sense of accountability. “It’s never been easier to find a shared community,” he said.<\/p>\n