8 Personal Finance Resolutions Anyone Can Master

Working on your New Year's resolutions? Unfortunately, an incredible 88% of New Year's resolutions fail. The big problem is that most people's resolutions aren't specific enough, or they're too ambitious.

Ready to get 2017 off to a good money start? Try out these eight financial resolutions. They're simple enough so that anyone can accomplish them in the new year.

1. Build a Household Budget

We know it doesn't sound like fun, but crafting a household budget is the best financial move that you can make in 2017. Why? A budget tells you how much money you should be spending each month on everything from groceries to eating out to streaming movies on Amazon. Without a budget, your odds of overspending will soar. Fortunately, making a budget isn't nearly as challenging as you might think.

2. Pay Down Your Credit Card Debt

Your credit card debt might look overwhelming, but paying down this expensive debt in 2017 is actually a fairly easy task — if you commit. There are several different ways you can attack your credit card debt, from paying off the cards with the lowest balance first to prioritizing those with the highest interest rates. (See also: The Fastest Way to Pay Down $10,000 in Credit Card Debt)

3. Build an Emergency Fund

What happens if your home furnace conks out? What if your car's transmission dies? Can you cover these unexpected expenses with cash? Or would you have to charge the repairs? If you have an emergency fund, you'll always have cash on hand to cover life's unexpected disasters. Financial experts say you should have at least six months' worth of daily living expenses saved in an emergency fund at all times. That might sound like a difficult goal, but you can build this fund as slowly as you'd like.

4. Cut Out One Unnecessary Expense

Vowing to cut your spending isn't the easiest New Year's resolution to keep; it's simply too vague. Instead, vow to cut one unnecessary expense from your routine. For instance, you might vow to stop buying coffee on the way to work, and instead brew your own java at home.

5. Boost Your Life Insurance Coverage

If you were to unexpectedly die, would you have enough of a life insurance payout to provide financial protection for your loved ones? If not, it might be time to boost your life insurance coverage. Fortunately, this is an especially easy New Year's resolution to keep: Just call an insurance agent.

6. Protect Your Things

Whether you're a renter or a homeowner, you need to make sure that you have enough insurance to replace the items in your home, should they be stolen or destroyed. Resolve in 2017 to meet with an insurance agent to discuss either homeowners' or renters' insurance.

7. Pay Your Bills on Time Every Month

Want a sky-high credit score? Then pay your bills on time every month. Doing this will slowly, but steadily, cause your FICO credit score to rise. And a higher credit score will mean lower interest rates when you're borrowing money later.

8. Find a Better Savings Account

You might think savings accounts are a fairly boring place to stash your dollars. The truth, though, is that some savings accounts are better than others, and some provide far better interest. Make a resolution this year to find a savings account that will help you build your savings at a faster clip.

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