Mom of 4 shares how 'moneymaxxing' helps her save
As the cost of living soars, "moneymaxxing" tips are trending on social media.
More people are jumping onto the viral "moneymaxxing" trend that's spreading on social media including a mom of four who shares her money-saving journey on TikTok.
Katia Chesnok told ABC News that following "moneymaxxing" strategies is helping her change her perspective about money.
"It's not about not spending anything, but it's about focusing on things that bring you joy and that bring value for you and your family," Chesnok said.
Chesnok said that to her, "moneymaxxing" means automating her savings, cooking meals at home more than she eats out, and cutting out impulse purchases for unnecessary items like a trendy new gadget.
On social media platforms like TikTok, others are also sharing what "moneymaxxing" looks like in their lives, such as using high-yield savings accounts and reducing spending to get the most out of their budgets.
According to Moody's Analytics, inflation now costs the average American household an extra $245 per month for the same goods and services they spent each month in 2025.
How to start "moneymaxxing" in your life
Jesse Mecham, the founder of the YNAB budgeting app, which stands for "You Need a Budget," told ABC News getting started with "moneymaxxing" is as simple as following three key steps.
1. Take a "scroll test"
Mecham, who is also the author of "Never Worry About Money Again," said the first step to "moneymaxxing" is to examine your current financial picture.
"You literally log into your bank account and you just kind of blur your eyes a little bit and start to scroll and look for those bigger numbers to pop out," Mecham said.
2. Identify what purchases aren't worth your money
After figuring out where your money is going, Mecham recommends cutting out what purchases are unnecessary and doubling down on those that are.
"We really have to make sure that we acknowledge where spending lights us up, where it has us feeling some joy," said Mecham.
3. Add a time limit to cut spending and add to your savings
Next, Mecham says follow through with your money-saving goals by setting time limits and contributing to your nest egg.
"Say, 'I'm going to maximize my money for 30 days. I'm going to hit these goals. I'm going to hit these targets,'" Mecham said. "And then, 'I'm not going to money max, but I'm going to become money curious about what did I learn, and where does this take me next?'"
Like Chesnok, Mecham said one of the keys to "moneymaxxing" success is to shift your ideas about money in order to take control of spending habits and identify what is worth spending time and money on.