Quit Smoking and Save Almost $6,000 a Year

One thing I like and one thing I hate:

• Like: saving money
• Hate: smoking

So, here's a tip I REALLY love -- stop smoking and save a bundle of money. Here's what you'd save if you quit lighting up according to SmartMoney magazine:

If you're looking for reasons to quit smoking, we've got $5,977 of 'em. That is, $5,977 in savings each year. And we're not just talking about the annual cost of cigarettes to fuel that pack-a-day habit, which at an average cost of $4.36 per pack will set you back $1,591.40 annually. We calculated other ways you'll save — most likely in areas you never thought about.

So, what's their list of savings? Here are some highlights:

• Life insurance: $940
• Auto insurance: $42
• Car resale value: $1,910
• Homeowners insurance: $33
• Health insurance: $480
• Health-care costs: $281
• Employer incentives: $700

Let's say that instead of smoking for 40 years (as my mother, a two-time breast cancer survivor, has) you actually saved that $5,977 each year and invested it with an 8% return. Any idea what it would be worth in 40 years? Try $4.8 million. Now how much do you like smoking?

But that may be a bit over-the-top. Let's say you could only save one-fourth of the $5,977 ($1,494) each year for forty years. That's still $1.2 million. And you'll feel a lot better too without 40 years of smoke clogging up your lungs.

Consider this my public service message for the day. ;-)

Comments

[Jonathan]

Not to mention that you stand a better chance of making it to 40 and beyond.

I wish my father-in-law would heed this advice, but he isn't at all interested in quitting. He was even bribed to quit, with hundreds of thousands of dollars from his wealthy mother--it is pretty sad.

I thought about picking up smoking, in order to "quit" after getting offered $100,000. But that is just wrong!!!

[tanyetta]

i've never understood the addiction to cigarette smoking BUT i can't talk because I'm addicted to chocolate. *sigh*

Most smokers would never consider taking such drugs but the fact that they are smoking creates a situation where the addictive nature of nicotine can create many different health conditions and the smoker has extreme difficulty stopping even when the health problems become life threatening