I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money rehab.

If you're one of the 40% of Americans who contribute to a 401k, you're taking key steps

toward securing your financial future.

Yay, you!

But if one thing is clear in this Kuku Banana's world of finance, it's that expenses only

get bigger as life goes on.

Like buying a house, for example.

If you decide that buying a home is right for you, coming up with the money to make such

a large purchase can be difficult no matter where you are in your financial journey.

Especially right now, home prices are still steep in many places and interest rates are

rising.

Typically, the down payment on your house should be 20% of the total sale price.

You can often do less, but whether or not you should is for a different conversation.

So just for now, let's assume you're dropping 20% for the down payment.

That means if you're looking to buy a $400,000 house, you can expect to spend $80,000 for

the down payment or even more depending on the mortgage lender or financial institution.

It is a lot of money to spend at once.

A down payment on a home will likely be the biggest transaction you will ever make in

your life.

And if you've been diligent about contributing to your 401K, you might be tempted to take

your down payment from that nest egg, which is allowed.

...