Have You Been Throwing Away $10,000 a Year?

Even non-smokers appreciate the difficulty of quitting smoking. Just seeing otherwise logical people continue to smoke despite the health risk makes the problem obvious. I mean, how is it that people who use seatbelts, eat healthy and take other measures to protect their health continue to smoke? Quitting must be very difficult indeed.
 
Consider today’s post a public service message. If the fear of a cancer-ridden death or emphysema-restricted life isn’t enough, maybe a look at how much smoking is really costing you can do the trick. You probably haven’t even considered many of these smoking related expenses.

You Could Buy a Car

Obviously, the cigarettes themselves are a large cost. Just a few years ago, $5 a pack was the norm. While higher taxes have helped to reduce smoking, there are still many consumers shelling out $9 for every pack of cigarettes. The pack-a-day smoker spends $3,285 per year on cigarettes, plus money for lost lighters. Think about it. That’s a used car! In ten years, you could by a luxury sedan. Tired of driving a clunker? Ditch the smokes for the car. Better yet, put the money in a 401k or a 529 plan for your kids.

Think of the Children…Copays!

Speaking of the kids, I’m about to lay it on thick here…because your smoking affects everyone around you. Children of smokers are more likely to suffer asthma and other breathing related problems. They are also more prone to pneumonia. Spouses also have higher lung cancer rates. Disregarding the obvious guilt of making your mate or kids sick, how much are you paying for those extra doctor’s visits and medication? How much have you lost in pay, staying home with a sick child? Even if you just lose one day, pay one MD visit copay and one prescription copay, you can add another $200 to the cost.

Smoker’s Insurance

Smokers pay much more for life insurance than non-smokers. That means you’re spending hundreds more.  Smokers pay 40-50% more for insurance. So if it’s costing a non-smoker $500 a year, add $250 to our cigarette-smoking total.

Watch Out

As a way to help cut down on the exorbitant cost of health insurance, companies are beginning to force smoking employees to pay more for their health insurance, as much as $20 to $50 every month. That’s $240 - $600 a year! We’re already up to $4,335. Some companies go so far as to hire only non-smokers. They even force employees to undergo a breath test or face being fired. 

 
Trading In

Getting back to that new car. How much less do you think the smoker will get at trade in? A smoker who drives a luxury car, who decides that they want to trade it in will lose an estimated $1,000. Some luxury cars lose as much as $3,000 for trade in value. 

The True Cost of Smoking

Horrible breath, stained teeth, and stinky clothing are often combated by smokers with chewing gum. That spare pack you keep in the car is costing you $50 a year for a grand total of $5,385 a year. Imagine how fast you could pay down your mortgage with that kind of extra money. How much more will you be able to do yourself because of the time saved that would have been spent smoking? When I quit, I realized a full extra hour of work every day. Just 10-12 cigarettes a day sap that much time from your already busy schedule. How nice would it be to have that extra hour to spend with your kids?
 
What motivated me was my husband’s birthday. He’ll be 50 this year. If he quits now, he greatly reduces his chances of emphysema. We can’t do anything about the cancer risk, but we can sure do something about the rest of it. So that was it for me. It had to be done once and for all. We quit together. He used Chantix, I used nicotine gum and lozenges. Now I am stunned to realize my husband and I have been throwing away $10,000 a year. I wonder sometimes if all of my penny pinching would have been unnecessary but for smoking!
 
Ask yourself these questions, take another look at your budget, and work out exactly how much smoking really costs you every year. Sometimes, seeing that number in black and white is enough to scare people straight. Let’s face it; the fear of dying is a maybe. Some smokers live to be 100. But the very real and certain knowledge of how much time and money you are throwing away is undeniable. Ditch the pack already!