The IRS collections machine seizes $54 billion every year from delinquent taxpayers through its enforcement activities. That sounds like a lot until you realize taxpayers underpay the IRS $458 billion in taxes every year. That leaves a tax gap of $406 billion in the United States annually. When you look at it that way, it’s no surprise the IRS is such an aggressive debt collector.

Credit card debt interest payments can get expensive fast. If you’re not careful, credit cards can claim a significant portion of your monthly income and create a boatload of stress.

Number of online installment agreements the IRS approved in 2019

Shopping around and comparing mortgage rates from multiple lenders can save you a lot of money over the life of a loan. Last year’s range of interest rates, according to Freddie Mac’s Primary Mortgage Market Survey, went from 3.89% to 4.30%. That is a particularly narrow spread when compared to other years. However, it represents a $25,678 difference over the life of a $300,000 mortgage with a 30-year term.

When you cannot meet your financial obligations and your lender agrees to adjust the terms of your loan, they may offer a loan modification package. Some people call it restructuring or a workout plan. Regardless of the name, the intent is to make your loan more affordable. Although nobody plans to need a loan modification when purchasing a home, sometimes homeowners just need a little help to get back on track. Mortgage delinquency rates are actually higher than for credit cards and consumer loans.

Homeownership is the American dream. But the path to making it a reality can feel more like a nightmare.

Many people believe that staying out of debt should be their ultimate financial goal. While avoiding debt is a good idea, making it  your primary financial goal is like heading for a destination without having drawn yourself a map. How do you draw yourself a roadmap for financial success? Simple: through responsible budgeting.

The definition of retirement continues to evolve. The FIRE Movement has some people focused on retiring early, while traditional retirees are living longer than ever.

In this post, we’ll first tell you a little about trade schools and why they should be considered a viable alternative to four-plus years of college study. We’ll then provide you with the information you need to successfully fund a trade school education. Like all articles on this site, this one will provide you with practical information that could save you money (and, in the long run, increase the money you make).

Student loan debt is at an all-time high. About 44 million Americans owe $1.5 trillion in student loan debt, and 11% of them are more than 90 days delinquent.