Smoking is expensive. No matter how strongly you feel about smoking you have to recognize that.
If you smoke one pack a day at $5 a pack then you will spend $1,825 a year or $152 a month. With that kind of money you can pay electric every month, go out to a few nice dinners every month, or a number of other things.
But more is involved in the cost than simply the cost of the cigerettes themselves. Here are some things to consider.
Smoking may not be a disqualifying factor, but it will increase your rates for life insurance. It may be only a little more each month but it’s a little more every month the rest of your life. If you have a typical 30 year policy and pay an extra $10 a month thats $3,600 more than if you did not smoke.
Same as with life insurance your rates will be higher if you smoke.
Smoking makes you unhealthy, so you will have to take advantage of healthcare more often than those that don’t.
Going to the doctor more often, maybe being admited to the hospital, or simply missing work will all cost you money.
Those who smoke often have breathing problems and will likely need things like inhalers and nebulizers to help. These things increase the cost of a smokers life.
Home Owner’s Insurance
A factor in your home owners insurance is the odds of things like fires. As a smoker you are more likely to have a fire in your house. Because of this your home owners insurance premiums will increase.
Value of the House
Again smoking itself doesn’t decrease the value of a house, however the smell gets into the house and people won’t want to purchase it. It also discolors walls and carpets.
Though most of those things can be fixed or replaced it does decrease the value of the house.
Value of Possessions
Just like your home will decrease in value so does the rest of your things. Trying to sell your things in a garage sale, or online you’ll have to take a loss.
Car Resale Value
My wife and I recently rented a car. When we got in and could smell nothing but cigarettes we requested a new car.
Same is true with cars we would be purchasing, and we are in the majority here. Most people when buying a car if they smell nothing but cigarettes they are not going to buy it.
Cost of Cleaning
If you do stop smoking or just don’t want people to know that you smoke then cleaning things will cost a lot more. You will have to go to dry cleaners more often, pay for professional cleaners for your home, and many other things that will cost more money.
On top of everything else, you’ll require more dental care as the cigarettes will ruin your teeth faster than sugar.
Possibly the worst is that you will lose out on the possibility of interest on money you invest. Investing that nearly $2,000 every year will provide a very large nest egg when it comes time to retire.