Keeping track of your billing would also be advantageous:

http://docs.aws.amazon.com/awsaccountbilling/latest/aboutv2/...

Of course, there's other stuff that you should do, too, like get into the habit of checking Trusted Advisor. :) But nice writeup!

Step 1: Complete the 5 steps under "Security Status"

I'm struggling to see how this "exercise" warrants a blog post when it simply rehashes AWS security practices.

Turn on cloudtrail for all regions.

Always audit your IAM polices using Access advisor.

Just stay away from Amazon.