|  | Public Health Safety | Smoking

Financial Problems Faced by Smokers

Cigarette smoking comes with financial repercussions as well as health problems. The average non-smoker's total financial assets are over 50 percent greater than a smoker's, according to the article "The Financial Impact of Improved Health Behaviors" by the Rutgers University New Jersey Agricultural Experiment Station. Smokers need to consider the potential financial problems they face to determine if quitting smoking is in their best interest.

  1. Finding a Job

    • Finding a job when you are a smoker is becoming more difficult, according to the article "The High Cost of Smoking" on the MSN Money website. Employers are starting to require nicotine tests as an employment screening and some employers are refusing to hire smokers at all. MSN Money cites the examples of Kalamazoo Valley Community College and Union Pacific as two employers that refuse to hire smokers.

    Cost of Cigarettes

    • As of 2010, the average cost of a pack of cigarettes, including applicable taxes, is $5, according to the article "How Much Money are You Spending on Cigarettes" published on Health.com. A two-pack a day smoker spends $70 per week on cigarettes, which comes to approximately $3,640 per year. If that smoker has an annual income of $35,000 per year, then he is spending more than 10 percent of his pre-tax income on cigarettes. If he experiences a pay cut due to losing a job and taking a new one, or the cost of cigarettes goes up again, then that percentage increases. The average of $303 per month spent on cigarettes takes money away from a savings account, paying off debt and other financial activities that can be used to improve the smoker's financial position.

    Insurance

    • Getting a reasonably priced life insurance policy can be a problem for smokers, according to the Rutgers University New Jersey Agricultural Experiment Station's Internet article titled "The Financial Impact of Improved Health Behaviors." Smokers pay more in life insurance premiums. If a smoker is required to pay for his own health insurance, then those rates will be higher as well. If smoking puts the cost of insurance out of reach for a smoker, then he and his family could be without life and health insurance protection.

    Car Trade-in Value

    • Sometimes the financial problems created by smoking are not as obvious to smokers. A vehicle that has been owned by a smoker, who smoked inside the vehicle, loses some of its value when it comes time to sell or trade-in the vehicle, according to the article "The High Cost of Smoking" on MSN Money's website. In some cases, the loss in value can be more than 10 percent.

Smoking - Related Articles