Here is a very interesting list from Money Central. It gives the five most expensive addictions and their estimated annual cost. Their list:
- Alcohol. Estimated annual cost: $166 billion.
- Smoking. Estimated annual cost: $157 billion.
- Drugs. Estimated annual cost: $110 billion.
- Overeating. Estimated annual cost: $107 billion.
- Gambling. Estimated annual cost: $40 billion.
My thoughts on these:
1. Minimizing your costs in these five areas will help you to significantly grow your net worth -- not to mention help you stay healthy.
2. None of these are an issue for me -- except for #4 on limited occasions. ;-)
3. It's interesting to me that alcohol and smoking are ahead of illegal drug use. I guess it's because the top two are done by so many more people that they overcome the very high cost per person of illegal drug use.
4. Big drop off between #4 and #5.
5. Seems like something is missing, but I can't put my finger on it. Any ideas?
How about shopping!?
Posted by: | October 18, 2006 at 08:20 AM
Porn! Though you can get that for free. At least that's what I hear...
Posted by: Nick | October 18, 2006 at 08:21 AM
I wonder where internet addicts would rate on that list ...
http://www.breitbart.com/news/2006/10/17/061017180234.eiuwieod.html
Posted by: buhler | October 18, 2006 at 08:26 AM
Alcohol and smoking are the top two because they are easily accessible by anyone and can be bought almost at every corner.
Posted by: Amateur Investment | October 18, 2006 at 08:27 AM
I agree that shopping is missing from that list.
Posted by: PMad | October 18, 2006 at 08:35 AM
Actually, the cost of alcohol use disorders is $184.6 billion a year, mostly due to indirect costs related to missing work.
Also, illegal drug use is lower than alcohol and tobacco because there is significantly less people using those drugs...around 1%, compared to people with alcohol use disorders which is around 9%. Tobacco use is about the same, if not higher, but I don't know those numbers off the top of my head.
Until shopping and internet addictions are "official" addictions, they'll be likely to be left off such lists.
Posted by: Him | October 18, 2006 at 10:12 AM
I'd say overspending in general. Shopping can be an addiction too, I've come to notice.
Posted by: Amanda | October 18, 2006 at 01:57 PM
shopping, spending time on the internet.
Posted by: Thomas B | October 29, 2006 at 03:12 PM
I would have thought compulsive shopping belonged in the top five!
Posted by: Judy | January 29, 2007 at 01:54 PM