How Much Money You Could Save Quitting Smoking

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Cigarette smoking is responsible for nearly a half-million deaths each year in the United States. And more than 16 million people in this country are living with some disease that is caused by smoking, according to the Centers for Disease Control and Prevention (CDC).

The CDC estimates that the total economic cost from smoking to the U.S. economy is more than $300 billion per year.

While those numbers may be shocking, this might help explain it: The CDC says that in 2017, companies spent almost $10 billion to advertise smoking and smokeless tobacco products.

If you’re a smoker, you probably have some sense of the economic impact the habit can have on your own life, but do you know exactly how much you’re spending on it?

How Much Money Does Smoking Cigarettes Cost per Year?

SmokeFree.gov is a website produced by the National Cancer Institute, a part of the U.S. Department of Health and Human Services. There, you will find a calculator that can help you determine the impact that smoking cigarettes has on your own wallet.

Let’s assume that you live in a part of the country where cigarettes are just slightly more expensive than the national average which, according to the site, was $6.28 per pack in June 2020. Let’s also assume that you smoke one pack per day. Here’s what the numbers look like:

SmokeFree.gov

As you can see, it really adds up pretty quickly. A pack-a-day smoker could save nearly $2,500 in the first year alone by breaking the habit. Over 20 years, that number could grow to nearly $90,000. That’s money that could go a long way toward funding a comfortable retirement.

This isn’t even considering the many thousands of dollars in financial damage that the health-related problems could make to your bottom line.

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Resources for Quitting Smoking

In addition to SmokeFree.gov mentioned above, here are some other places you can turn to if you’re ready to break this expensive habit.

Have you successfully quit smoking? Do you have any words of advice for others who are trying to do the same? Let us know in the comments below!

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