Tobacco Costs Really Add Up
Tobacco costs a lot more than you think. So, make today your quit date and you could have a lot more cash in your wallet by this time next year.
You probably already know that you pay for your tobacco habit with increased risk to your health, but do you realize how much it's hurting you financially? At an average cost of around $6 a pack on military installations, a pack-a-day smoker spends more than $2,0001 a year just for cigarettes. Plus, there's the cost of lighters, gas to make emergency runs to the store, and extra cleaning and repair bills for your home, car, clothing, and teeth. Smokeless tobacco products put a similar dent in your wallet.
Prices for tobacco products vary widely depending on where you live, but we have a great calculator that will show you exactly how much you'll save once you quit. Enter the price you pay per pack, packet, or can of tobacco, and how much you use. Once you see how much you're spending every day, week, month, year, and (ouch!) decade on tobacco alone, you might be motivated to set a quit date and do something else with that money.
A study2 that compared the total wealth of nonsmokers with both light smokers and heavy smokers found that, on average, nonsmokers have 50 percent more wealth than light smokers and twice as much wealth as heavy smokers. This wealth gap widens by another 4 percent every year that the smoker continues to smoke.
The study also found that the difference in wealth between smokers and nonsmokers equals about the amount that smokers spend on their habit. So, it appears that smokers spend money on cigarettes that would otherwise go into savings or be used to buy items such as cars and homes.
There's no point in worrying about the money you've already spent—it's gone. But how about the money you'll continue to spend on tobacco tomorrow, next week, and next year if you don't quit? That's money that you could be using to go on vacation, save for emergencies, or begin building your bank account to get the kind of wealth that people have when they don't use tobacco.
Giving up tobacco can improve your life in so many ways—you'll feel better and look better, and even your bank balance will be improved. To help you meet this important goal, make use of the tools available at this site. By developing your own personal quit plan, finding support in the community where you live, or enrolling in Train2Quit, you give yourself the best possible chance of creating a more prosperous, tobacco-free future.
1, 2 Zagorsky, J. L. (2004). The wealth effects of smoking. Tobacco Control, 13, 370–374.