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Save Money By Quitting Smoking

By Guest Author On December 29, 2010 Under Success Secrets

Health may be the main reason why people want to quit smoking, but it isn’t the only reason. The cost of smoking has a direct impact on their way of life, limiting the amount of money they can contribute to the living expenses of the household.

Smoking is a very expensive habit, and it’s worse when you smoke more than one pack per day. Smokers may start out smoking relatively few cigarettes per day, but as the addiction goes on, they start upping the number of cigarettes they need to use each day in order to feel the mood enhancement, so the cost of their habit goes up accordingly until they make the decision to quit smoking.

By multiplying the cost of one pack of cigarettes with the number of packs of cigarettes a day you buy or smoke, then multiplying that by 365, you can get your nicotine budget. That’s your yearly cost of the nicotine habit, which would fall to zero if you quit smoking instead.

Let us assume that a pack of cigarettes costs only $3.58, which is quite low compared to most other states, and you smoke a pack a day – that’s close to $1,500 spent on cigarettes in one year.

Wouldn’t you rather quit smoking and do something extravagant with $13,067 in ten years than have health complications from a smoking habit? Of course those who are up to 3 packs per day in a state where the cost of cigarettes is well over $5 per pack, see an even bigger impact on their finances.

If you were to quit smoking a pack a day today and put the money you’re using toward cigarettes into a 401(k) that earns you at least 9% interest, then you’d have a quarter of a million dollars within the next 30 years.

The costs of your nasty smoking habit could also mean other costs related to your health and maintenance. Those smokers who regularly get their teeth cleaned end up paying more to remove unwanted stains and odors.

Until you quit smoking, you’re also plagued with higher insurance costs because health care providers know the impact smoking causes on the health economy of our nation.

Need to sell your car? If you’ve been smoking in it, you won’t get as much for your trade-in as you would if you had quit smoking. Plus, studies have shown that smokers earn less and risk being unemployable by companies with a no-smoking policy.

These costs don’t even factor in the health care costs associated with smoking. Smoking can cause emphysema and lung cancer, and the costs to treat these diseases could be quite steep. Quit smoking for your health, but also to reduce your financial waste and put that money toward your lifelong dreams.

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