Thursday Trim the Trash Time: June 15, 2017
Smoking Cigarettes is a Waste
Hello, friends and welcome back to “Thursday Trim the Trash Time.” This post is my weekly blog about things you can eliminate from your budget that will save you money. Today’s victim is the ever popular smoking cigarettes. This one is just way too easy. Because I like to relate everything back to money, in this post I will speak strictly on smoking as it relates to your wallet. The health problems are obvious, but the actual cost of smoking might be more than you thought.
1) Yes they are stupidly expensive
When I was growing up cigarettes were sold in vending machines. That wasn’t too long ago actually. Back then you could get a pack from a machine for a couple bucks. These days even the value brands are around $7 and if you want Player’s or Du Maurier you are looking at $10-$12. Think about if you smoke a pack every two days. That’s $1820 every year. A pack a day equals $3650. That’s pretty disturbing when you think about it. Do you know how many people I know that don’t have a cent in their bank account but have a pocket full of darts? The phrase has been said before but I will say it again, you are paying to kill yourself. It’s sad but true.
2) Smoking make life more expensive
There are 2 factors in writing a Life Insurance quote: Age and Smoking Status. Being a smoker often doubles the cost of a life insurance policy. That also goes for Disability and Critical Illness Insurance as well. Health insurance will be more expensive as well. Same goes for Home Owners Insurance as the chance of your house burning down increases if you smoke. Speaking of your home, it’ll be worth less money if you smoked due to the foul odor. That also goes for your car when you try to sell or trade it in. These are hidden factors but they exist and will make a dent in your wallet.
3) Bad health is expensive, very expensive
Some people don’t realize what having bad health actually costs you. People who smoke are most susceptible to nagging ailments that may cause them to miss work. Well, you are tough, so that won’t happen to you. How about the cost of medication due to your health being poor? My health care plan at work covers that so I am fine. Do they also cover the cost of major dental work that will more than likely have to be done due to smoking messing up your teeth? Maybe they do. Maybe they have a Disability program too that will cover you if you get sick for extended periods of time. Did you know that by law disability insurance cannot cover your whole paycheck if you fall ill? Can you live on 85% of your paycheck? Probably not! What if I told you most group insurance plans only cover you for about 65% of your pay? Even if you can live on that small amount of money, will you be saving for your future during this period? That means retirement will have to be delayed or put off completely. That might not be that big of a deal seeing how the average smoker only lives to the age of 64, 14 years younger than the average non-smoker.
I grew up around smoking. Most of my family smokes and they are already seeing the effects of it. Most of us know someone close to us who smokes. They say that smoking is harder to quit than heroin. I think it is worth a shot. You only fail at it if you stop trying. I once talked to a friend of mine about smoking and she mentioned how hard it was to quit. I mentioned to her that I realize the struggle is real. I also realize that we all have our demons, our struggles. For some people, it is drug/alcohol addiction. Others it is food or gambling. Others have phobias or anxieties that take over their daily lives. I know I have several things I would change about myself. The important thing is to define your life on your terms and not on the addictions or afflictions terms. We are all bigger than our problems and sometimes all it takes is knowing it to be true.
Thanks for reading my post today and tune in tomorrow for my final reflection on the week and my live broadcast from the SixFive Interactive Cellar at Innovation Works London. I have attached an article about the real costs of smoking along with the smoker’s helpline. Have a great day friends!
Smoker’s Hotline: 1-877-513-5333
https://budgetboss.ca/convenience-stores-waste-money/
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Joseph James Francis is a Financial Advisor. You can find him on various social media platforms and at budgetboss.ca.