The Biggest Purchases of Your Life

Traditionally a home is considered the biggest purchase in your life. Home values range from less than $100,000 for a one-bedroom condo to several hundred thousand dollars and up for a single family home in a "hot" real estate market. The median price of a home in the United States $182,600 at the time of publication. Keep in mind a home in New York City will be considerably more than a home in the Midwest.

When automobiles became status symbols instead of a means of transportation vehicles the prices went up. All the advertising has to be paid for and it's incorporated into the cost of your vehicle. Prices range from $15,000 for a modest economy model to well over $75,000 for luxury models. NPR.com reports the average price at $30,000.

That sheepskin hanging on your wall costs a pretty penny. $12,000 per year for public institutions to $32,000 for private institution at time of publication for a total cost for a four year college education of $48,000 to $128,000 and that doesn't include graduate school or professional education such as becoming an attorney, veterinarian, dentist or doctor.

Insurance may be another surprise when you include home, health, vehicle and any other insurances you might have. The cost depends on various factors, including the deductible. The higher the deductible, the lower the payment, but the more you'll pay if you have a claim. The costs really add up over time. Home and vehicle insurance are mandatory, while health insurance may not be depending on where you live. The annual nationwide average cost of health insurance for a family was $4,968. Your employer may be pick up some of the cost. Coverage may or may not include dental and eyeglasses. Co-pays vary as does whether preventative care is included.