What is ‘lifemaxxing’? – The new trend in how young people are being forced to live their lives

The 'maxxing' trend has now reached the way Gen Z spends money

But a growing number of younger Americans are starting to measure financial success by something much simpler: whether they can actually enjoy their lives.

That idea is behind “lifemaxxing”, a Gen Z trend centred on spending money on experiences now, from holidays and concerts to time with family, rather than putting every financial goal decades into the future.

The trend is part of the wider “maxxing” phenomenon, which includes everything from gymmaxxing to potassiummaxxing. And it appears to be tapping into a broader change in attitudes towards money. 

A July SoFi survey of more than 4,000 US adults found 72% would be willing to slow their financial timelines to make room for trips, family and meaningful experiences.

Brian Walsh, SoFi’s head of advice and planning, says there is nothing wrong with enjoying money today, provided people continue preparing for the future.

“You can have anything you want. You just can't have everything you want,” Walsh said.

He believes lifemaxxing can be “a really, really positive way to really maximise someone’s finances” when people are still contributing towards long-term goals such as retirement.

Gen Z wants to retire comfortably but many are unsure they will

There is also evidence that Americans are already redefining what financial progress means. 

Some 59% said enjoying life was an important measure of financial success, compared with 27% who pointed to owning a home.

For younger adults, that shift may partly reflect how difficult traditional milestones have become. 

Rising house prices, student debt and wages that have struggled to keep pace with inflation have made goals such as buying a home increasingly challenging.

Among Gen Z and millennials, 62% want to retire comfortably, but only 46% are confident they will. Meanwhile, 67% hope to own a home, compared with 62% who believe they will.

Credit card debt could take the fun out of 'lifemaxxing'

Walsh warns that lifemaxxing can become risky when experiences are funded through debt. Credit card balances can accumulate interest, leaving people with less money to save for the future.

At the same time, he argues that financial freedom does not have to be a single destination reached decades from now.

“The definition of financial independence and financial freedom is really evolving in the real world,” Walsh said. 

He believes recognising smaller stages of financial independence can make long-term goals easier to stick with, because “if you just make your marker and your goal something that’s gonna be decades down the road, it’s really, really hard to stay motivated.”