These past few years have been miserable for money. The stock market has tumbled, unemployment has soared, the housing market has continued to crumble, and retirement savings have shriveled away. Whew! Here’s hoping the next few years will be better!

But hope can only do so much. Hope cannot bring change; action brings change.

If one of your goals is to take control of your money (instead of letting it keep control of you), this crash course in financial basics can help guide the way. Here are nine simple, but effective, actions you can take to build a better financial future.

Method #1: Track Every Penny You Spend
The authors of Your Money or Your Life admonish readers to “keep track of every cent that comes into or goes out of your life.”

This is the best way to become conscious of how money actually comes and goes in your life as opposed to how you think it comes and goes. This is the step that somehow makes the biggest impact. It doesn’t matter how you track your spending—the most important thing is to do it.

    * You can use a cash notebook.
    * You can use an online tool like Wesabe, Mint, or Quicken Online.
    * You can use a piece of software like Quicken or Microsoft Money.

Whichever method you choose, stick with it. Make it a habit. Don’t fudge the numbers. Record your transactions as soon as possible. Most of all, don’t judge yourself. Tracking your spending is an exercise in data collection; it’s not the appropriate time to change your habits.

Method #2: Develop a Budget
After you’ve tracked your spending for a few weeks (or months), use the data you’ve collected to develop a budget. According to The Millionaire Next Door, budgeting is one thing that sets the wealthy apart from the rest of us—55 percent of millionaires keep a budget.

Many people—myself included—fail to budget for a variety of reasons: it’s boring, we don’t think we need it, or we don’t know how. But this simple act can provide a roadmap for your money.

There are a variety of budgeting methods you can choose, from Andrew Tobias’ three-step budget to the 60 percent budget. My recent favorite (and a favorite of GRS readers) is Elizabeth Warren’s balanced money formula: 50 percent to Needs, 20 percent to Savings, and everything else to Wants. Simple but effective.

Crave more budgeting tips? Check out this article highlighting thirteen tools for building a better budget. Hate the idea of budgeting? Consider the spending plan, a budgeting method for non-budgeters.

Tip! Spend less than you earn. This is the fundamental money skill. It’s common sense, yet many people never learn to do it. Only by spending less than you earn can you hope to build wealth. This is easier to do if you track your spending and develop a budget, but those steps aren’t completely necessary. Even if you do nothing else in this list, spending less than you earn can put you ahead of your peers.

Method #3: Optimize Your Accounts
For eighteen years, I was an account holder at a large national bank. I paid an eight dollar “service charge” every month, as well as many other fees. I received terrible service and earned no interest. Over the last couple of years, I’ve finally begun to optimize my accounts. If you haven’t already done so, consider the following:

    * Open an online high-yield savings account. Even in this era of low interest rates, it’s still possible to earn about 3 percent on your savings. Internet favorite ING Direct currently offers a 2.50 percent APY, and FNBO Direct offers a 2.80 percent APY. These rates are about as low as they can go, and should increase in the months and years ahead. And if you don’t need as much liquidity with your investments, consider researching CD rates which may offer a higher interest rate.
    * Choose a rewards checking account. Believe it or not, it’s possible to find checking accounts that pay interest. Online checking accounts generally pay between 1 percent and 3 percent, depending on your balance. But you can usually find an even better deal through your local bank or credit union. Check out this huge list of rewards checking accounts.
    * Use a rewards credit card. If you have trouble with credit, it’s best to avoid plastic altogether. If you can use credit responsibly, be sure to choose a credit card that pays you. Avoid cards that carry an annual fee. Find a rewards program that matches your lifestyle. But don’t choose a card just because it offers a signup bonus or because it gives you a discount at your favorite store. Remember: your goal is to find a useful tool. Look for a long-term relationship you can live with.

It’s important to choose accounts and systems that work for you. I signed up for a rewards checking account at a local credit union, but the nearest branch is fifteen minutes out of my way. I never use it. I had to compromise by opening on online checking account instead. I earn a lower rate, but it’s an account I’ll actually use.

Tip! When optimizing your banks and credit cards, consider using multiple accounts at each institution. For example, I have ING Direct subaccounts that allow me to target my savings. I save for vacation in one account, for a car in another, and I use a third account for emergency savings.

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