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Why Set Impossible Goals for 2021? [The Ultimate New Year’s Savings Hack]

In the 1980s, self-driving cars and smartphones without antennas were only things you’d see in movies — unimaginable futuristic goals. Now, these “impossible” inventions are part of people’s everyday lives. These innovative ideas were thought to be outlandish years ago until creators like Elon Musk and IBM’s team put their impossible goals to the test.

Impossible goals are things you want to achieve that seem out of the ordinary — ones that feel as if you may never reach them, even in your wildest dreams. These goals could be turning your dream side hustle into a full-time job or building your savings from zero in the next year to buy your dream home.

While the end result seems unreachable, a mix of motivation, determination, and hard work can get you further than you think. To see the strategic process of setting and achieving your biggest life goals, keep reading our jump to our infographic below.

What’s an Impossible Goal?

An impossible goal is a goal you think you could never achieve. Becoming a millionaire, buying your dream home, or starting a business may be your life goal, but one too big that you never set out to achieve. Instead, you may stick to your current routine and believe you should live life in the comfort zone.

Becoming a millionaire usually requires investing time, confidence, and a lot of hard work — things that may challenge you. But when you think about the highest achievers, most of them had to put in the effort and believe in themselves when nobody else did.

Flashback to 1995 when nobody believed in the “internet store” that came to be Amazon. While that was considered impossible years ago, Amazon’s now made over $280 billion dollars.

In other words, when you make your impossible goals a priority, you may be pleasantly surprised by your progress. We share how to set hard financial goals, why you should set them, and how these goals could transform your financial portfolio this year.

Impossible Goals Set by the Rich and Famous

4 Reasons to Reach for the “Impossible”

Impossible goals challenge you to shift your way of thinking — getting comfortable out of the safety zone. They help fine-tune your focus for daunting tasks you’re willing to put in the time and work for. Whether you’re looking to become a millionaire, buy your dream house, or pay down your debts, here’s why you should set goals for things you think you could never achieve.

1. You May Be Pleasantly Surprised

Everything seems impossible until you do it. When you’re in elementary school, maybe you thought getting a four-year college degree would be out of reach. Regardless, you put in the time and hard work to become a college grad years later. The same goes for your potential goal to write a book. You may think it’s hopeless to write a few hundred pages in the next year, but you may find it attainable once you hit the halfway point.

2. You Check Off Micro-Goals Along the Way

It’s hard to set your goals too low when you’re trying to reach for the stars. In the past, you may have set small goals like being more mindful with your money. While mindfulness practices are extremely beneficial for your budget, you may need more of a push to save for your dream home. By setting impossible goals, you may find it easier to reach your savings goal this year. You may have no idea how to do it, but your goal is to figure it out. Side hustles, a new job, or starting a business are all potential starting points.

3. It May Not Be as Hard as You Think

It can be uncomfortable to try something for the first time, so to avoid the doubts of reaching your goals, create a strategic plan. Download and print out our printable to breakdown each impossible goal. Start with your big goals and break them down into mini-goals. For example, if you want to start an online ecommerce store, researching the perfect website platform is a good starting point.

4. What Do You Have to Lose?

If you already live a comfortable life, you may only have experiences to gain and nothing to lose. When embarking on this journey, check in with yourself every month. Note all the lessons you learned and how far you’ve come. You most likely will face failures, but you’ll be failing forward rather than backwards. Your first ecommerce product launch may not have gone smoothly, but you may know how to improve for the next time around.

Impossible Goals Roadmap

Impossible Goals Download Button

How To Set Impossible Budgeting Goals in 6 Steps

If your impossible goal is related to finances, your mindfulness, time, and dedication will be required to put you on a path towards your dream life. To get started, follow our step-by-step guide below.

Step 1: Map Out Your Dream Lifestyle

  • Get out a journal and map out your dream life. Some starter questions may be:
  • Do you want to afford that house you’ve always dreamt about?
  • Do you want to have a certain amount of money in your savings?
  • Are you hoping to turn your side hustle into a full-time job?
  • What do you find yourself daydreaming about?

Track all these daydreams in a notebook and curate the perfect action plan to achieve each goal.

Step 2: Outline Micro-goals to Reach Your Financial Goals

Now, list out mini-goals to achieve your desires. Start with the big “unachievable” goal and break it down into medium and small goals, then assign each mini-goal a due date. For example, saving $10,000 this year may take more than your current monthly earnings. To achieve this, you may create passive income streams. If that side hustle is to start a money-making blog, you may need to research steps to successfully launch your website.

Step 3: Believe and Act Like Your Future Self

Think of yourself as the future self you want to be. You may picture yourself with a certain home, financial portfolio, and lifestyle, but your current actions may not reflect your future self. Your future self may invest, but your current self is too intimidated to start. To act like your future self, consider doing the research and finding low-risk investments that suit you and your budget.

Step 4: If You Fail, Learn from Your Mistakes

When working towards your dream life, you may hit roadblocks and experience failures. As Oprah explains it, “there is no such thing as failure. Failure is just life trying to move us in another direction.” While failure may happen, you’re able to learn from it and pivot. Every mistake you make, analyze it in your journal. Note what worked, what didn’t, and what you want to do better tomorrow to surpass this roadblock.

Step 5: Track Your Results Consistently

Host monthly meetings with yourself to see how far you’ve come. Consider creating a goal tracking system that suits you best. That may include checking your budgeting goals off in our app month after month. Find a system that works for you and note your growth at the end of each month. If you’re putting in the time and hard work, you’ll get closer to your goals in no time.

Step 6: Be Patient With Your Budget Goals

Throughout this journey, practice patience. Setting goals may be exciting and motivating, but when you’re faced with failures, you may feel hints of disappointment. To avoid a failure slump, be patient and open to learn from your mistakes. If you didn’t make what you wanted from your side hustle the first year, you’re that much closer than you were last year.

Why set your sights on hard goals? Everything feels out of reach until you do it. All it takes is motivation and determination to achieve the impossible. To boost your lifestyle, budget, and drive this New Year, consider setting goals that feel out of reach. Keep reading to see why these goals may be perfect for you. Why Set Impossible Goals for 2021? [The Ultimate New Year’s Savings Hack] appeared first on MintLife Blog.

Source: mint.intuit.com

5 Tips for Picking the Perfect Paint Palette

Keeping track of paint colors

If you’ve tried saving your paint swatches in the past and can never find them when you need them, try this simple trick: Write the name and type of paint you used for each room under the light switch plate. That way, you’ll know where the info is when you need it.

RELATED: Domestic CEO's 9 Unique Wall Décor Ideas

Glass pieces

Your friend has some leftover paint, but you’re not sure what it will look like when it dries. To find out, try this simple trick: Paint a piece of glass (a microscope slide works well, if you have one), then look at the color from the non-painted side. It will reflect what the dried color will look like.

Don’t let your white paint yellow

When painting walls and ceilings white, it’s best to add several drops of black paint into each can of white. Why? The paint will cover with fewer coats, and be more reflective. Many experts say it will also cause the paint to yellow less quickly.

SEE MORE: Who Knew's What Should You Do With Leftover Paint?

Make your own swatch book

When painting your house, it’s always a good idea to keep track of paint colors—you may need them to match future paint jobs or to help you coordinate other items in the house. Create swatches by dipping a 3-by-5-inch index card into your paint can and writing down the details.

Opt for “Oops Paint”

To save money on painting costs, check out the “oops paint” section (yes, that’s really what it’s called) of your local hardware store. You’ll find great deals on brand new cans of custom paint returned by customers who didn’t like the color. It’s a great way to find a color for an accent wall or even a primer at a huge discount. You’ll pay anywhere from one to five dollars per can, rather than $20 and up.

RELATED: The Relationship Doctor's How to Make Tough Decisions as a Couple

For everyday tips and lifehacks, tune in to the Who Knew podcast on iTunes and Stitcher! And don't forget to follow us on Facebook and Twitter.

Source: quickanddirtytips.com

Ivanka Trump and Jared Kushner’s DC Home Is Available To Rent—for $18K a Month

Ivanka Jared DC rental up for rentrealtor.com, Alex Wong/Getty Images

Here’s a real estate tip for folks joining the incoming Biden administration: A rental vacancy has opened up in the tony DC neighborhood of Kalorama—an area known for foreign diplomats and political heavy hitters.

Ivanka Trump and her husband, ex-presidential adviser Jared Kushner, have decamped for Florida, following in the footsteps of her father, former President Donald Trump.

Now, the couple’s former rental is in search of a new tenant. It’s available to lease for $18,000 a month.

The recently renovated home with six beds and 6.5 baths has all kinds of style points. It’s billed as “one of the most well-known and photographed houses on the planet—given its recent tenants.”

During the Trump years when the upscale abode served as the DC home of the first daughter and her family, it attracted protests and candlelight vigils, according to the Washingtonian. The 2017 gathering shown below was to protest Trump’s immigration policies.

On the other hand, the Washington Post recently reported that the mansion’s bathrooms were off limits to the couple’s Secret Service detail. As a result, the security team had to rent a nearby studio apartment at a rate of $3,000 a month—which ended up totaling more than $100,000 over the years, according to the Post.

Bathroom access aside, the 1923 home has been “meticulously maintained by the landlord and former notable tenants,” the listing asserts. Details of the 7,300-square-foot layout include crown moldings, recessed lighting, and wood floors throughout.

Plus, the “very contemporary” interiors boast high-end finishes and electrical updates made within the past four years.

And you might catch a glimpse of former President Barack Obama and Michelle Obama in the neighborhood. The couple live just a “stone’s throw away,” the listing notes. That proximity to power might appeal to a house hunter joining the Biden administration.

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Watch: The D.C. Neighborhood That Power Brokers Ivanka Trump and the Obamas Call Home

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While new listing photos aren’t yet available, the images from 2017 showcase a modern, minimalist living space in a neutral palette decorated with abstract art.

Stone stairs lead to the front door.

realtor.com

Exterior shot of a deck

realtor.com

The living room features a fireplace and plenty of space for oversized furniture. The sleek kitchen with a long, white island looks to have everything you need to whip up a meal (or unpack takeout). The kitchen also has room for a table and adjoins a family room.

A formal dining room features a fireplace and recessed lighting. The master suite includes French doors, another fireplace, and cool tones.

Down south, the home’s former residents are apparently leasing a luxury condo in Miami, according to the Wall Street Journal. But their long-term plans look to involve a 2-acre lot they reportedly purchased on ultraexclusive Indian Creek Island for the jaw-dropping sum of $32 million.

Rodrigo Valderrama with Keller Williams Capital Properties holds the rental listing.

The post Ivanka Trump and Jared Kushner’s DC Home Is Available To Rent—for $18K a Month appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Extreme Makeover’s Ty Pennington Lists Bright and Beautiful Venice Beach Home

Reality TV star Ty Pennington, known for changing people’s lives with his energetic personality on the original version of Extreme Makeover: Home Edition, is now looking to cash in on his own home makeover. Pennington has just listed his house — a beautiful and bright 1927 Craftsman in Venice, Calif. — for $2,795,000.

Pennington put his home design expertise to good use and carefully restored the property earlier this year with the help of his trusted interior designer, Patrick Delanty. Delanty, also known to be Halle Berry’s designer, has long been working alongside Ty Pennington, serving as his design director for Extreme Makeover and running his on-air design segments, most notably his presence on The Oprah Winfrey Show, Rachel Ray Show, NBC’s Nightline and Good Morning America.

Just like its reality TV star owner, the home is bright, cheerful and quirky, with colorful interiors exuding creativity and style. The property is listed by Patrice Meepos of Compass.

inside ty pennington's bright home in venice, california
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

Tucked away on a one-way street near the beach, Venice Boardwalk, canals and Abbot Kinney’s hot spots, the original 1927 dwelling has 3 beds, 3 baths, and a sizable living room with decorative fireplace, along with a sunken family room with large windows overlooking a newly landscaped, private back yard with koi pond.

inside Ty Pennington's house in Venice, CA
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
living room in Ty Pennington's house in Venice, CA
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington bedroom
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
sunken living room in ty pennington's house
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
inside Ty Pennington's house in Venice, CA.
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

The ground level hosts the kitchen, laundry room, and bedroom with direct backyard access, as well as a full bath. On the upper level, there’s a master retreat and a second bedroom. 

Ty Pennington added quite a few special touches to the 2,102-square-foot home, including bamboo flooring, baths adorned in vintage-inspired ceramic tile, a master bath sporting a standalone shower and an antique cast-iron freestanding tub, kitchen with concrete countertops and a wraparound, porcelain-tiled porch. There’s also a beautiful backyard that looks like a great place to entertain guests.

ty pennington kitchen
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington kitchen island
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington backyard
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington backyard entertaining area
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

While Ty Pennington did not return to host HGTV’s 2020 version of Extreme Makeover: Home Edition (which is hosted by Modern Family‘s Jesse Tyler Ferguson), you can catch the two time Emmy award winner in his other home improvement series, Trading Spaces — which recently restarted airing after a 10-year hiatus.

You can also get more tips from the home design expert from his latest book, Good Design Can Change Your Life, which is an intimate look at Ty’s design inspirations and is full of décor advice and tips. While we haven’t yet had the chance to pick up the book ourselves, according to his website the book is part reference, and part behind-the-scenes from Ty’s own home remodeling, which means the Venice home is already a bookshelf hit.

More beautiful celebrity homes

Morgan Brown Re-Lists Stunning West Hollywood Home Amid Split from Actor Gerard Butler
Wayne Gretzky is Selling his $22.9M California Home Designed by ‘The Megamansion King’
Chrissy Teigen & John Legend Buy $17.5M Beverly Hills Mansion After Cashing Big on Previous Home
5 Fabulous Homes of Your Favorite Formula 1 Drivers

The post Extreme Makeover’s Ty Pennington Lists Bright and Beautiful Venice Beach Home appeared first on Fancy Pants Homes.

Source: fancypantshomes.com

We Bought a House Sight Unseen—and It Turned Out To Be a Total Nightmare

buying sight unseenKatsumi Murouchi; ablokhin; Anna Peisl/Getty Images

I thought I was up to the challenge of a long-distance home purchase during a pandemic. After all, I was moving back to my hometown after only three years away. I knew the area. Family members could fill in the rest. I had a trusted real estate agent from my last house purchase. Plus, I look at real estate listings as a hobby even when I’m not in the market for new property. What could go wrong?

But after purchasing a midcentury modern ranch sight unseen and trekking 1,800 miles across the country to finally get an in-person look at it, my husband and I couldn’t be more shocked.

The front of the house.

Wendy Schuchart

There were so many shoddy details that hadn’t translated through video and photos. The ceilings were lower and the rooms were narrower than they seemed in photos. The countertops that had looked like granite in photos were actually laminate. Every single counter and bathroom fixture was customized for a short person. After seeing broken fixtures and a layer of grime over everything, it was clear that I would have to cure decades of bad maintenance.

Grime discovered in the kitchen on move-in day.

Wendy Schuchart

And then there was the constant noise pollution from the nearby interstate. Our ground team thought the sound was minimal, but a month after we moved in, the surrounding trees dropped their leaves and the dull murmur grew to a roar heard through closed windows.

So what were our mistakes?

Don’t depend on listing photos

In general, experts agree that buying a home without setting foot in it can be a dicey proposition at best and a nightmare at worst. And online listing photos, while helpful in narrowing down your property search, won’t give you the full picture of a house’s condition.

“I’ve visited homes only to discover that the yard is steeper than it looked online, the rooms are smaller, and you couldn’t tell there were power lines right behind the house,” says Steve Heard, a Realtor® with The Heard Group in the Sacramento, CA, area.

There were so many deal breakers that I would have noticed had I been able to set foot inside the home instead of relying so heavily on listing photos and videos. Case in point: Visitors at the front door of my new home have a direct sightline to the main bathroom’s toilet.

“Much like anything you buy online, a home’s listing is created to sell, not inform. They’re marketing,” says Shana O’Brien, owner of Cascadia NW Real Estate in Washington and Oregon.

Go beyond standard due diligence

A home inspection is standard operating procedure for anyone buying a home, but a long-distance purchase should always go through rigorous vetting to make sure you’re not buying a money pit.

Typically, the buyer pays for the home inspection during the escrow period. This can cost around $300 to $500, according to the U.S. Department of Housing and Urban Development. But to cover your bases and make sure there aren’t any major system failures before you sign a purchase agreement, experts advise bringing in an additional pair of eyes.

Go to the American Society of Home Inspectors, where you can search by your home’s address for a local inspector who can examine the house on your behalf.

Barton L. Slavin, a senior litigation and transaction attorney on Long Island, NY, advises hiring an experienced licensed and insured engineer to inspect the premises before the purchase.

That would have been great in my own long-distance home purchase. After the home inspection, the seller had “fixed” some conditional electrical work that my home inspector found, but those fixes broke other things, which resulted in an electrician visit on my dime. And on the first cold day, when I turned on the furnace, it failed to heat, which was another big repair bill that would have been covered by a warranty.

In my first two months in this house, I’ve also found faulty plumbing hacks and a massive rodent infestation.

How to beat the odds

“The key to success is extreme buyer due diligence,” O’Brien says. “That means having a team of trusted ‘boots on the ground’ to physically visit and inspect the home.”

In retrospect, my live-video walk-through was fairly quick, less than 15 minutes. At the time, it felt like it was enough, but now I realize it wasn’t nearly long enough.

Our experts advise an extensive live-video walk-through with a long-distance home purchase.

“FaceTime works great,” O’Brien says. If buyers see something they have questions about during the walk-through, the real estate agent can zoom in. They can even take still photos and close-ups, which have better detail than streaming video.

Pay attention off-property, too.

“Walk around the block, video camera on, and capture the neighborhood, the condition of the sidewalks, the level of pride of ownership in the surrounding homes,” says O’Brien. “Is the narrow street jammed with parked cars? Are the sounds from the elementary school super loud at recess? What’s the street traffic and street noise like? The buyer will not know unless their agent does the investigation.”

Be realistic

Despite all of your best efforts, though, there’s still a chance your long-distance home purchase will not be all you bargained for. When that happens, O’Brien suggests taking it all in stride.

“Real estate is almost always a good investment,” she says.

As for me, I’m already planning out my investment strategy and making the best of my midcentury modern surprise fixer-upper.

The post We Bought a House Sight Unseen—and It Turned Out To Be a Total Nightmare appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

How Unemployment Can Affect Your Plans To Buy a Home—Now and Later

unemploymentthianchai sitthikongsak / Getty Images

The coronavirus pandemic has led to record-high unemployment rates not seen since the Great Depression. And this is particularly worrisome for would-be home buyers.

If you were among the 23.1 million Americans who were laid off or furloughed, you might be worried about your financial future. And if you were hoping to buy a house—either now or in the next few years—you might also wonder how your current jobless status might affect those plans.

While the situation might seem dire, unemployment does not mean that home-buying plans have to be put on hold for long. Here’s how to navigate a period of unemployment so that it doesn’t derail your hopes to buy a home.

Can you buy a home if you’re unemployed?

For starters: If you lose your job while in the midst of home shopping or after you’ve even made an offer, you might have to put the purchase on hold.

The reason: Given your reduced income, the odds of lenders loaning you money for a property purchase are slim, unless your spouse or partner has a sizable income that can carry the mortgage alone.

And even if you’re getting unemployment checks every week, that money is considered temporary income, so it can’t be used to qualify for a mortgage, says Jackie Boies, senior director of housing and bankruptcy services at Money Management International, a nonprofit providing financial education and counseling.

In short, “unemployment could have an effect on your ability to purchase a home in the short term,” Boies says.

But the good news is that once you find a new job, you can likely resume home shopping without trouble, Boies adds. “Unemployment shouldn’t have a long-term effect on being able to buy a home.”

How long after unemployment can you buy a home?

But even once you do find a new job, that doesn’t mean you can easily buy a house just yet. That’s because lenders like to see a steady history of employment before loaning someone money.

“Regular employment must be reestablished as stable, reliable, and dependable,” says Karma Herzfeld, mortgage loan originator at Motto Mortgage Alliance in Little Rock, AR.

So how long is enough? Lenders typically require borrowers to have six months of employment at their current job, and two years of continuous employment. Breaks in employment older than two years shouldn’t affect getting a mortgage.

How unemployment affects your credit score

While unemployment doesn’t jeopardize future home-buying hopes per se, financial experts warn that what can put those plans at risk is how you handle your finances while jobless. Unemployment, after all, can stress your budget in ways that can damage your credit history and credit score.

Lenders check your credit score to assess how well you’ve managed past debts. Scores between 650 and 700 range from fair to good; scores below 650 are considered subpar, which could limit which lenders are willing to loan you money for a house. (You can check your score for free on sites like Credit Karma.)

Credit scores can be damaged in a variety of ways during unemployment. For one, if you get behind on paying bills, this will put some blemishes on your credit history and drag your score down.

Unemployment can also lower your credit score by negatively affecting your debt-to-income ratio, a calculation used by mortgage lenders to compare how much you make against how much you owe.

If you’re unemployed, you may face a double whammy as your income is lower and you’re charging more to your credit cards, thus increasing your debt. Both moves can negatively affect your debt-to-income ratio, which may make lenders leery of loaning you money.

“Any factor that affects income or debt may affect the debt-to-income ratio,” Herzfeld explains.

In sum, hopeful home buyers should be careful not to take on too much debt, even while unemployed. You need to preserve cash as best you can.

“I recommend, if on unemployment, [you] cut back on all discretionary spending and make every effort to keep bills current so that the credit score may not get negatively impacted,” Herzfeld says.

Debt-to-income ratio will likely rebalance once you return to work, as long as you haven’t racked up too much debt during the period of unemployment, Boies says.

How to handle your finances while unemployed

“My recommendation is to always try as best as you can to pay at least the minimum required payment on all monthly debt obligations, otherwise credit may be negatively affected,” Herzfeld says.

Boies suggests reaching out to landlords, credit card companies, utilities, auto lenders, and others to find out what options you have, such as payment plans, deferments, or forbearance. You might also be able to reduce some bills, such as insurance, by reviewing your policy.

“Don’t think that if you can’t pay that bill, you just can’t do anything about it,” Boies says. “You need to reach out to see what options they have available to you.”

How to bounce back from unemployment

If your credit score is negatively affected while you’re unemployed, it’s not the end of the world—but it will take time to repair.

Six months to a year or more of positive credit rebuilding could get you on track to buy a home, Herzfeld says.

“The sooner past-due debts can be remedied, the sooner the score may begin to improve,” she says.

The post How Unemployment Can Affect Your Plans To Buy a Home—Now and Later appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com