An initial step any individual can take is to create a simple budget. This can show your inflows of income, outflows of income as well as expenses. If you have more outflows than income, you have a deficit. If you have more income than outflows, you have a surplus. First step for many may be to change their financial situation from one of deficiency to surplus. http://www.investopedia.com/university/budgeting/#axzz1RwO3ZKdV Budgeting is good for microeconomics and personal finance. Accountancy will be the next step up from budgeting.