You can of course do a 'poor mans' k-system setup and get most of the advantages. Basically just do something like this:
1. Set your analog volume controller knob at some reasonable level, like 3/4s up, and mark that position.
2. Select a number of commercial tracks that represent a wide range of compression. So something like maybe Dark Side of the Moon on the low end and something like Green Day on the high end.
3. Import these songs onto tracks. Leave the track faders at 0
4. Pull the master fader down until those tracks are peaking at whatever you want your reference level to be, say -12dBFS on the master bus.
5. Now start playing these tracks. Adjust your speaker sensitivity levels so that the most compressed ones are uncomfortably loud, and the least compressed ones are a little bit quiet. That will mean that reasonably compressed stuff will be somewhere in the middle. Go back and forthe between the tracks to find a happy medium, but be sure that the heavily compressed stuff is just too damn loud to listen to comfortably.
So now what you have is a point on the analog volume control that you can go to and know that it's at a known point, and you have a master volume peak level (-12dBFS in this case) that you can then allow your own stuff to peak at (with the master fader back up to 0dBFS again of course.) So now, since you've set a known master bus peak, the only way you can get the music louder is to compress it more (bring up the average level.) And you have already determined that the actual SPL in the room is set such that overly compressed music is too loud.
So basically you have a situation now where you will tend to naturally gravitate towards a reasonable and appropriate level of compression for the song you are working on. Too little and it starts getting a bit too quiet. Too much and it starts getting uncomfortably loud.
This is not a formal setup, and doesn't use an SPL meter which is convenient to have, but it actually works very well and if you later do a real one you'll probably find out that you end up very close to the same thing. The basically point of it is to just force you towards appropriate levels of compression naturally, and of course it also provides you with a standard monitoring level so that you can have a consistent Fletcher/Munson response for gauging the overall mids vs. lows/highs balance of the mix (which will change a lot as the volume in the room goes up and down.)
If you have an SPL meter, you can measure the commercial tracks' SPL in the room, then put the master bus fader back up to 0dBFS and turn down the analog volume knob until you get back to the same SPL. Mark this one and you now have a reference position for listening to commercial music that should be at the same SPL as your mix levels are, which is nice for comparison purposes.