If you are looking to save some money and kick a habit at the same time, WalletHub said the ideal New Year’s Resolution for you, would be to give up smoking. WalletHub analyst Jill Gonzales said the average Louisiana smoker is letting $1.8 million dollars go up in smoke over a lifetime.
“So, what if you were to invest that pack a day over the course of a lifetime, how much are you missing and then health care costs per smoker,” said Gonzales.
The cost was based on the average pack-a-day smoker beginning at age 21 to 69. The average Louisiana smoker spends $113 thousand in healthcare costs, which is third in the nation.
“So, this is everything from a higher premium because you’re a smoker, to the actual financial drain caused by tobacco use, again those smoking connected health complications, especially if you’re smoking,” said Gonzales.
In addition to smokers having an elevated risk of severe COVID-19 symptoms. Gonzales said on average smokers make 20-percent less than nonsmokers, which includes healthcare-related costs due to smoking.
“Also, workplace bias or lower productivity due to smoking-related breaks things like that. So that creates a wage-gap between smokers and nonsmokers,” said Gonzales.
Gonzales said while it is cheaper to buy cigarettes in Louisiana compared to other states, that usually means a higher number of smokers. She said healthcare workplace issues greatly offset the cost of a pack of cigarettes in the end.
Wallet Hub Survey Results for Louisiana
- Out-of-cost per smoker $102,142 (Rank: 15th)
- Financial-Opportunity Cost per Smoker $1,138,749 (Rank 15th)
- Health-Care Cost per Smoker $113,254 (Rank 3rd)
- Income Loss per Smoker $441,271 (Rank 4th)
- Other Costs per Smoker $14,389 (Rank 41st)
- Total Cost Over Lifetime per Smoker $1,809,805
- Total Cost per Year per Smoker $37,704
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