The Financial Consequences of Smoking

Smoking cigarettes occasionally are nothing to bother, but daily it cost more than you think. Not only financial cost but it also affects your health as well. With it, you have to pay higher for your life insurance, health insurance due to the disease related to smoking. Not only this, but you also affecting the health of your loved one due to passive smoking. So the main question is how much the Financial Consequences of Smoking is. And the answer is here.

Financial Costs:

Smoking is injurious to health, and undoubtedly it is an expensive one. On average, a person spends about $7 per pack of cigarettes and for a month almost approximate $400! This amount is almost equal to the airplane ticket, monthly rent or car payment. In short, the smoker is spending his/her money almost on cigarettes. In return, you are charged higher for your insurance policies as they are at high risk of such insurance due to high medical cost throughout life. Even one can get an idea of the cost of smoking from a life insurance guide for smokers that shows the higher premium due to the high risk of chronical diseases. So if a smoker is quit smoking, then he/she can save up to $70 in a week and $3,000 a year.

The fact is not all smoker buy the expensive one, some buy illicit tobacco and counterfeit cigarettes or loose tobacco and make their cigarette. Irrespective of brand and type of cigarette a person smoke, it is clear that the economic costs to maintain this habit is immense. In a family, if two people are smoking 20 days and on another hand, the overall household income is $21000 a year, then they are spending about one-quarter of their whole income (around $5100) on tobacco only!

The Hidden Financial Costs Of Smoking:

Insurance policies:

For some insurance, smokers get almost double the cost of the premium. And do not think that either you are a one-day smoker or occasional smoker who smoke once in a year or twice in a year, the insurance company will count you as a smoker only. If the person stays nicotine free for the whole year and even do not replace it with other then after they can ask for normal insurance rates.  Some companies also class someone who is smoking e-cigarettes. They are also check in depth for the truth related to smoking and investigate medical history. Even if they find a person dishonest, they rejected or drop the claim or policy.

Home costs:

Due to cigarette smoke, the walls, ceiling, or furniture of the home may cause yellowing stains on it. Due to cigarettes the carpets and other things have chances of burning to some extent. To nullify the smell of smoke, a person needs fragrances, candles, and aerosol fresheners, which are costly. Due to smell, and staining the resell value of home also reduces.

Not only these but the person may also lose earnings, and while driving person finds smoking while driving, then he/she has to pay a fine. Even the resell value of the car is also reduced, and the insurance company will also charge high for car insurance.