What Is Moneymaxxing? Financial expert says most people missing one key step

As we all look for ways to stretch our paychecks, a viral social media trend known as "moneymaxxing" is gaining traction online.

The concept is simple: get the most value possible out of every dollar. That can mean cutting unnecessary spending, using rewards programs, moving money into high-yield savings accounts and avoiding purchases that don't add value.

But according to financial expert Mical Jeanlys-White, the trend misses a critical piece of the puzzle.

"It's putting your focus on, 'Hey, where can I save?' What it's lacking is, 'How do I put my money to work?'" Jeanlys-White said during a recent appearance on the In Your Corner podcast.

Saving money is only the first step

Jeanlys-White, founder of WealthMore and host of the All The Wealth podcast, says many of the habits associated with moneymaxxing can help people become more intentional with their spending.

That could include switching to store brands, reviewing subscriptions, reducing impulse purchases or prioritizing high-yield savings accounts for emergency funds.

But she argues that long-term financial success requires moving beyond saving and into investing.

"That's the investing piece that's missing," she said. "Figure out how to make sure you have enough money to save and invest."

Why the trend is resonating

Jeanlys-White says the trend is arriving at a time when many families feel squeezed by the rising cost of everyday necessities.

"Everyone is paying more for their basic necessities," she said, pointing to expenses such as groceries, rent, utilities and gas. "Inflation is a pay cut. It's invisible, but you are feeling it."

She also notes that today's consumers have less of a connection to physical cash than previous generations, making it easier to spend money without fully considering where it is going. 

The power of compound interest

One of Jeanlys-White's biggest concerns is that many people don't start investing early enough.

She calls compound interest "the eighth wonder of the world" and says consumers are either paying it through debt or earning it through investments.

Even small contributions can make a difference over time.

"I always say take it off the top," she said. Instead of spending first and saving what's left over, she recommends deciding how much money to save and invest before making other spending decisions. 

The bottom line

Moneymaxxing may be the latest social media buzzword, but the core ideas are not new.

Cutting expenses and being more intentional with spending can help improve financial stability. But according to Jeanlys-White, building wealth ultimately comes down to putting money to work through investing and giving compound growth time to do its job.

Watch or listen to the In Your Corner podcast

You can hear the full conversation with Mical Jeanlys-White in the latest episode of the In Your Corner podcast on the CBS Philadelphia YouTube channel.

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