From the Start Menu, choose Organizer (which may be on the second screen of the list). If Voice Notes isn't visible, press More until it is. Select Voice Notes.

Figure out where the microphone is built into your handheld.

Then, click Record and say or sing (if you're so inclined) whatever you want into your microphone. (Best to keep it short!) Click stop when you're done. Windows Mobile will assign your recording a default file name.

Press "okay" to play it back. And when you've got one you're happy with, click Menu and choose Rename. Give it a name you'll remember and click done.

Then, click Menu again and select Set as Ringtone.

It's that quick and easy!

To test it, if you don't want to wait until your phone next rings, go to Settings, choose Sounds, then Ring Tone - your new file name should show up - then select Menu, then Play to hear it.