As the new year approaches, many individuals are eager to seize the chance for renewal, making resolutions aimed at enhancing their lives. A common focus for many is financial well-being, aiming to right the financial ship with goals that are often predictable—creating a budget, increasing savings, and reducing debt, for instance. However, beyond these popular strategies, there exist several lesser-known resolutions that can significantly influence financial health.

These unconventional resolutions may not immediately come to mind, but each has the potential to make a meaningful impact. As the crafting of your financial goals begins, consider incorporating these suggestions for a greater effect.

Property Maintenance

For property owners, lacking a solid maintenance schedule can lead to severe financial setbacks caused by unexpected repair costs. Neglecting home upkeep can result in a measurable financial burden. Tackling maintenance issues as they arise is typically less taxing than facing major problems like a roof replacement or rotting siding, both of which can easily reach tens of thousands of dollars. Committing to regular property maintenance can yield financial benefits over time.

Subscription Audit

It’s remarkably simple to enroll in services and subsequently forget about them—these unattended subscriptions can accumulate significant costs over time. Make a commitment to evaluate and assess your subscriptions, determining which are indispensable and which can be cut. There are tools available to aid in the review of these recurring costs. Establishing this resolution not only streamlines expenses but also liberates funds that can be redirected towards an emergency savings fund, debt reduction, or increased savings.

Insurance Review

Many individuals purchase insurance out of necessity, then neglect to revisit those policies until a claim arises. This year, resolve to examine your insurance coverage comprehensively. Seek opportunities for lower premiums—whether by switching providers or correcting inaccuracies on your CLUE report. Ensure you possess adequate coverage in all areas of your life, and consider consulting with an insurance expert if uncertain about necessary coverage levels. Additionally, it’s crucial to verify that your beneficiary information is current and that you’re not paying for unnecessary riders.

Addressing Inflation

Currently, the effects of inflation are felt widely, causing many to perceive it as an uncontrollable circumstance. This year, resolve to factor inflation into your financial planning—adjusting your savings and income goals to account for inflationary pressures. Monitoring the inflation rate will give insight into how costs may rise, helping to prioritize needs versus wants. This knowledge is essential for making informed financial decisions rather than being caught off guard by unexpected increases in living expenses.

Valuing Your Time

Consider this resolution: recognize the value of your time. In the workplace, the hours spent are as much a commodity as the skills and experience one brings. While proficiency enhances the worth of time, its intrinsic value is still paramount. Take the time to calculate your effective hourly rate (if not paid hourly, divide your annual salary by 2,080 for a rough estimate).

With this figure, evaluate tasks in terms of time investment versus reward. If you typically earn $25 an hour, use that insight to assess whether your time is being utilized efficiently or if you’re not being compensated fairly. Should you suspect undervaluation in your role, consider either negotiating a pay increase or exploring new opportunities.

Clearing Out Old Assets

This new year, resolve to diligently search for any forgotten assets. A quick check for unclaimed property could jog your memory about an old account previously overlooked. If you have numerous abandoned 401(k) accounts from past jobs, this is the year to tackle that financial clutter.

Even modest balances in these accounts are worth claiming and rolling over for numerous reasons. Collectively, the funds may amount to more than anticipated, and allowing former employers to manage these accounts isn’t conducive to your financial future. Moreover, in a climate where 28% of Americans have little to no retirement savings, every dollar counts.