Would a $3,000 - $6,000 incentive change your bank account?

Bad habits can be a costly mistake to anyone's bank account. We overlook our habits because they have become second nature to us. A few smoke breaks at work, a carton a week at home, this adds up and what we don't see are the effects to our life style and budget.

23% of Americans are addicted to cigarettes according to U.S. Center for Disease Control and Prevention. Besides the obvious harm cigarettes cause to your body, this is not the only place feeling pain. Your hard earned money is being smoked out of your wallet. This simple chart will show what you are affording. Remember to calculate packs not only smoked by you, but also your partner if in the same household.

Packs/Day

Cost/Month

Cost/Year

1

$151.55

$1,818.60

1 1/2

$227.33

$2,727.90

2

$303.10

$3,637.20

Cost of pack of cigarettes is based on $5.00 a pack not including sales tax



Now lets say you carry the average household $8,000 credit card debt calculated by MSN Money. At least 23% of this debt is carried by smokers that spend marginally around $2,000-$4,000 a year. The math is simple! Quit smoking AND cut your credit debt in half!
Create the savings for you and your family, eliminate that nagging credit car bill from Master Card, Visa, Capital One or one of the hundreds of others.

Take that average $8,000 credit card debt which we have now cut in half due the lack of smoking and lets dig deeper into the costly bad habit.

I will not cover why smoking is unhealthy as I will assume we all know smoking has harmful effects on your body. These harmful effects will cost you out of pocket in multiple ways.
  • More regular doctors visits = more co pays.
  • More sick days from work = no pay.
  • Insurance premiums go up.
  • Cost of Medication.
Employers also pay for your bad habit when paying for insurance. This cost is than passed on to you. An estimate of $25- $50 a month and $600 a year now part of your insurance benefits you are paying. With rising health care cost can you really afford to smoke, and is it really worth the health risks involved?

2 comments

  1. C.C. Mitchell // March 2, 2009 at 5:35 PM  

    The cigarettes thing is the one that gets me. I have always thought it was the most obvious of personal money pits. But have never actually seen the statistics of cost per month and year.

    www.crackedworld.com

    Politics Untied

  2. Anonymous // November 11, 2009 at 2:19 PM  

    Wow I quit smoking 6 years ago. Since that time I've lost 2 dear siblings to Lung Cancer! Please folks at least try to give up these horrible monsters they are a threat to all. I miss my brother and sister dearly..
    L

Post a Comment

Your Frugal comment!