"Moneymaxxing," a social-media trend focused on getting more value from your money, is gaining attention as consumers look for ways to strengthen their financial footing.
The trend encourages people to cut recurring expenses, redeem rewards points, earn interest on savings and build better everyday financial habits, according to a CNBC report published Saturday.
Financial experts say the approach may have staying power as consumers face an affordability crunch.
From Frugality to Financial Strategy Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, described moneymaxxing as a "cultural shift" toward being proactive, resourceful and creative with money.
Brad Klontz, a psychologist and certified financial planner, called it "frugality made cool again." The idea also challenges the notion that financial discipline means avoiding spending altogether.
