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I am in the same position as you, with a non-turbo, mechanical pump diesel. As far as I'm aware there is no way of monitoring 'on the fly' fuel consumption accurately.
You could invest in a diesel fuel flow transducer (commonly used in boats), but all this does is measure what is drawn from the tank to the injector pump, and then subtract what is returned to the tank - though these are expensive, and are not very accurate on low flow rates.
I have found what is commonly called the "power screw" on Bosch injector pumps, and progressively turned it down over a few tanks. I have less power for sure, but economy has increased, and smoke is reduced also.
If you are going to buy any gauges, look into coolant and oil temp - my engine was being overcooled and wasn't operating effeciently - I have grille blocks in place now and gained another few MPG.
Other than that, the less revs and throttle the better! Hope some of this is useful!
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