Feed your wallet, not your habit!
As of the 1st of July 2007, Britain will officially become an anti smoking state. In light of this mass exodus, many smokers are vowing to kick the habit once and for all.
If you are a smoker, the greatest reason for stopping is more than likely going to stem from issues of health, however, maybe one of the other major benefits you should consider are the huge, positive financial gains that kicking the habit can have.
According to a recent study, the average smoker is likely to save almost £2000 per year through not smoking. Greater still, if this money were to be invested into one of the better savings accounts currently available; you could reap an additional £500 in interest. These savings could then be put towards repaying any outstanding credit such as loans or overdrafts.
Alarmingly, the UK population spends around 19 billion pounds every year on cigarettes and tobacco. The UK population is also seriously suffering at the hand of personal debt. Some experts have suggested, that if 70% of smokers were to quit and to then dedicate all available funds towards their financial commitments, the debt mountain would quickly become a hill.
Very few people realise how much of an effect smoking can have on their finances, until they actually stop. The actual cost of cigarettes rises each year at an exponential rate, where as net income remains relatively stagnant. If you are currently experiencing financial difficulties and are struggling to meet loan repayments, kicking the habit could just be the lifeline you are looking for…. in more ways than one.
