Tobacco.org

CCS: Don't let your financial future go up in smoke 

The impact of smoking on your health is well documented, but counselors at Consumer Credit Counseling Service (CCCS) of East Tennessee know that it can also wreak havoc on a person's financial health. Whether it's helping people struggling with credit card debt or trying to avoid foreclosure, counselors find that tobacco use adds a significant amount to monthly household expenditures and they advise consumers to consider reducing or quitting smoking to save money.

A pack-a-day smoker spending an average of $5.15 per pack could save $1,879 per year by quitting smoking. These funds could be used to cover living expenses, reduce household debt or start a savings plan. Invested in a basic savings plan paying just 3 percent interest, you would have in excess of $21,000 after 10 years. Over 30 years, that figure climbs to more than $91,000.

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