This is the last Money May post, but it definitely won’t be the last time I talk about money on this blog. Budgeting, saving, investing… personal finance as a whole is very important to me I hope that you find value in posts to come. Over the last few weeks I’ve talked about some things *I’m* doing to manage my money better. Some of you may feel like it’s too much or you could never take the steps I’ve been taking – and I get it. I’ll admit that I have been afforded some privileges that will allow me to take the measures that I’ve been trying to implement for myself.

However, even if you can’t do the things I’m doing, there are still ways that you can manage your money so that you can start working toward a better financial future. When it boils down to it, there are really three key things that you need to do to start. Everything else can come later.

Although this tip sounds straightforward, you may sometimes find it daunting to actually put it into practice. However, reevaluating where you’re spending money can significantly increase the scope of your earnings and help you live within your means.

The best way to get started is to write out all of your monthly expenses and see how this compares to your monthly income. This important first step will help you determine the current state of your personal finances.

Take a second look at this list and see if you have any expenses that can be eliminated or reduced. Be honest with yourself. Which expenses show wasting your money on things that aren’t even important to you? Focus on keeping what’s important and eliminating the rest.

For example, while there’s nothing inherently wrong with spending five dollars per day on a Frappuccino, if your income doesn’t support this kind of spending, it may be in your best interest to do without this small luxury for the time being.

Invest in a good budgeting program, like Quicken or QuickBooks, to help you keep track of your spending and simplify the task.

This can be as simple as taking advantage of the compound interest offered by most savings accounts to start. Yes, the interest rate is abysmal but it’s a baby step in the right direction.

Making sound investments can help increase your annual income. You don’t need to invest aggressively to get this kind of return, either. Ask friends and family for referrals to trustworthy brokers to help you get started.

Ensure that you have a plan to protect your assets in case something unforeseen happens. There’s nothing worse than working hard for your money and then losing it due to poor planning and shortsighted investments.

Sometimes, slow and steady not only wins the race with respect to your personal investing strategies, but it can also put your money at lower risk.

Beware of any instant growth opportunities or investment clubs that promise overnight fortunes. These may include seminars with “self-made millionaires” that pressure you into signing up with a program that might not be a legitimate source of income. Take the time to research investment opportunities before you commit your money to them.

Consider obtaining renter or homeowner insurance (if you don’t already have it) to help protect your assets.

If you take just a small amount of time to analyze your spending habits, you may surprise yourself with how much money you can save! You can then invest these savings in a way that will help you see returns year after year.