How much does it Really cost to Smoke?
As a smoker, you have probably come to accept the fact that your habit costs you money – and even calculated how much. However, there is a LOT more to it than just the cost of cigarettes and lighters…
You see, smoking has secondary costs involved – most of them hidden. Additionally, these costs – very much like the health effects of smoking – only adds up slowly, so it is not always obvious.
Here are a few things that keep swallowing your money without you even thinking about it:
- Life insurance: Since smokers generally have a shorter life expectancy than non-smokers, insurance companies take this into account, and adjust their premiums accordingly.
- Medical aid and insurance: Since the habit results in greater risk of serious medical complications, the insurance company has to adjust the premium to suit the risk. Additionally, smokers generally require more medical attention as they grow older, and that has to be paid for somehow as well. Lastly, your habit is likely to result in more prescription medication being required as you grow older – the cost of which also has to be covered…
- Dental costs: Smokers tend to spend more on dental care and related products/services than their non-smoking counterparts.
- Decrease in house value: Since the smell of tobacco smoke clings to everything, long term smoking can discourage some buyers, requiring you to reduce the asking price of your home.
- The value of furniture and other possessions in the home: Similar to the effect on the value of the house itself, smoking can decrease the resale value of these items.
- Car insurance: Many accidents have been caused by people lighting up cigarettes, or dropping them while driving. As such, insurance companies see smokers as more risky drivers, and will adjust your premiums accordingly.
- Your car’s resale value: The bad smell left behind in your car from continuous smoking will affect your trade-in value when you want to buy a new one.
- Smaller income: Research has determined that smokers earn – on average – anything between 4% and 11% less than non-smokers.
- Smaller pension: Since people who smoke do tend to earn less, their pension contributions will also be less, resulting in a smaller income at a time in their lives when they really need it to be as much as possible.
- Cleaning costs: Considering the effects of the smell, you are likely to spend more on keeping your house, car and clothes clean.
Of course, we are not even talking about what could have been…
For instance, if you had to invest your monthly smoking budget into a retirement policy, how much would it have been worth by now, or by the time you retire?
Maybe you need to sit down with a calculator and do some SERIOUS calculations – you’ll be scared out of your wits when you see the REAL cost of smoking.