AP Photo/Alex Brandon
Both financial planners agree: A house is one of the most expensive things most Americans will buy.
- We asked certified financial planners Colin Moynahan and Christine Centino to tell us the most expensive things the average American will pay for on over a lifetime.
- While buying a house is the biggest expense, they listed a few other things many of us don't realize we're spending a lot of money on over time, including health insurance, taxes, and even furniture.
- Buying a car also made the list, especially when considering today's longer loan terms and higher interest rates.
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With home prices on the rise, college education costs going up, and auto loan delinquency rates at an all-time high, some of the most expensive things Americans are purchasing are also the most essential.
We asked Colin Moynahan and Christine Centino, both certified financial planners, about the most costly things they felt Americans will purchase or put money towards over a lifetime. Their answers and the numbers they gave are based on their years of experience as financial planners.
While both agree that a home is one of the top expenses, they also came up with some unexpected items, such as furniture, taxes, and even health insurance.
Here are the seven things these CFPs say will cost Americans the most.