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Hey everyone, and thank you for joining me for my second edition of Monday Money with Josh! Last week we discussed little known facts about credit scores and, I loved the feedback you all gave me on the article. With that said, I hope to keep you just as engaged today!

The topic today is being modest with your money. Why? Well, as human beings, we have a natural desire to do anything but be modest with money! When we find something we like, we have a tendency to build a need for products or services that should be considered a want. When we are out with friends, we have this overwhelming urge to shout, “I’ll cover the tab!!!” when deep down inside, we know that it’s going to put us in a tough place. With that said, here are 3 simple tips that can help you to be modest with your money…

Tip #1: Think About The Risks And Rewards Of Each Purchase You Make

This is something that took me a long while to start doing. However, when I did start, I noticed that my financial situation continued to get better. Our society was designed around consumerism which, drives us to naturally develop a need for products and services that aren’t really necessary. With that said, the next time you pick up the phone to call the guy on the T.V. with the cool drill or beautiful ring, think about how that purchase will benefit you or risk your financial stability!

This should come even more into play when a promotion guided decision to make a purchase or open a loan is being made. These days, we see a lot of 0% interest until 2015 for auto loans, furniture stores and more. But, these 0% interest loans tend to come back to bite the consumer in the butt. For instance, on many of the furniture loans, if the loan is not payed off within the promotional period, you will not only be required to pay future interest but, past interest will also be calculated and added to your balance! Always read the fine print and think rationally about any promotion guided purchase.

Tip #2: Constantly Look For Ways To Save Money

I know, this tip seems a bit cliché. If you weren’t looking for ways to save money, chances are, you wouldn’t be reading this blog or any other blog surrounded by the personal finance topic. But, many of us only look online for deals. And, I can understand why. But, simple ways to save money in your hometown also go a long way. Simply buying a newspaper could save you $20 or $30 by providing you with coupons you will use for your grocery shopping. Also, many gas stations offer lower prices per gallon if you use their credit card. So, you could use it every time you fill up and pay off the balance immediately. If you do that, you save a few cents per gallon and, you won’t pay interest!

Tip #3: Set A Weekly Fun Spending Budget

The average person pays his or her bills on pay day and the rest is fun money. But, this does not give you the opportunity to save for the future and money is often spent in very poor ways. With that said, it’s best to try and come up with a weekly spending budget that will allow you to do the things you enjoy in moderation, without breaking the bank. To do so, subtract your monthly expenses from your monthly income. I mean all expenses with the exception of miscellaneous purchases and entertainment. Now, simply cut the total in half. One half goes to savings, the other half is divided into the weeks. For instance, if you have a total of $500, $250 will go to savings and you will have a weekly entertainment budget of $62.50. A total that is plenty for a movie and a meal or a night on the town!

Final Thoughts

When it comes to money, much of this comes down to slowing down and thinking about the decisions you are making. So, I challenge you to take a more holistic approach when it comes to money management and frugality! I hope these 3 tips will help you on your journey to become financially stable!

Author Bio: Hey everyone, I’m Joshua Rodriguez! I’m the proud owner and founder of and now, the proud journalist behind Monday Money with Josh on Modest Money! I’d love to hear some of the things you do to be modest with your money in the comments below or on Google+!

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