Fact: Over 40% of Americans today admit to living beyond their means.

Fact: Learning how to save isn’t as hard as most people think.

Developing a personal finance system doesn’t have to be a grueling experience. The five most important aspects of developing a feasible financial plan may seem like no brainers, but surprisingly few people actually abide by these rules. Keeping these five fiscal commandments in mind may be your key to taming your money woes once and for all:

Spend Less than You Earn

Hey, I said they were obvious. However, you might be surprised to find that sticking to this tenant is more difficult than it sounds. In order to successfully pull it off, consider a plan where you pay yourself first: set aside about 10% of your paycheck and put those funds directly into a savings account. Next, avoid impulse buys by shopping only when you’re armed with a list. Cut back on your fast food consumption by bringing lunch from home a few days a week. (If you swap just two $7 lunches a week with a brown bag alternative, you could be saving close to $300 a month) Set the thermostat to 78, and turn off lights and televisions when they’re not in use.

And remember this: if you can not afford it, do not buy it. Credit cards may seem like a great idea… until your debt begins to mount. If you must use plastic, pay off your balance in full every month.

Make a Budget—and Stick to It

Whether you create it with a paper and pencil or a sophisticated computer program, your budget is at the base of every financial decision you make throughout the month.

Lack of planning will inevitably lead to overspending. Also, keeping yourself organized will help with the next rule…

Pay Your Bills On Time

Late fees are more than just irritating—they can wreak havoc on your bank account. And because they aren’t a part of your budget, they can lead to bounced checks, which equal overdraft fees.

Schedule a set time every week to sit down and go over all pending bills. Make paying off your student loans and home mortgage a priority.

Create an Emergency Fund

If you’ve never saved before, then creating a stash of emergency cash should be your first goal. Ideally, you should have about six months worth of income set aside in an easily accessible high yield savings account, in case of a job loss or sudden illness or accident.

Resist the temptation to tap into your emergency money when your car needs tires or the kids need braces—those things should all be part of your monthly budget!

And finally,

Set Concrete Goals

Dreams are great, but it’s important to know that you are working towards something real. Whether you’d like to buy gold and stocks, purchase your first home, or retire in the town where you grew up, it’s essential to map out exactly how you’re going to make it happen.