A moment on the lips, a big impact on your health and wallet. You may not think about money or wellbeing when smoking, but you should.
Following the 2022 Budget Speech, there was a:
- R1.03 increase on the cigarette levy;
- 37c increase on piped tobacco;
- whopping R6.77 increase on cigars; and
- proposed new tax on vaping liquid (or “juice”) of at least R2.90 per millilitre from 1 January 2023.
Here’s how being a smoker impacts your health and pocket:
1. Personal finances
Smoking is an expensive habit! Buying one pack a day for a month could cost you up to R840 per month (at a retail price of R28 per pack).
Being a regular smoker puts you at more risk of health conditions like heart disease, cancer and asthma. Therefore, you’re likely to pay higher rates for life insurance, as much as 80%.
3. Medical costs
Smoking harms your physical health, damages your teeth and, as mentioned above, puts you at risk of disease. It also lowers your immunity, making you more prone to flu and colds. This increases medical costs such as trips to the doctor, dentist and pharmacy.
4. Household cleaning costs
The smell of nicotine sticks to your clothes, furniture and car’s interior and is difficult to manage. It can even discolour your furniture. Having to continually pay for the cleaning and maintenance of your home and car due to nicotine damage is quite costly.
5. The benefits of quitting
The health benefits of quitting smoking are immediate, and you will enjoy the financial effects in time. You’ll have more money in your budget to put towards savings and expenses within a month of quitting. This is because you:
- will have fewer medical costs;
- won’t be spending money on cigarettes; and
- will pay a lower life insurance premium (if you provide a negative nicotine test).
If you’re considering quitting to prioritise your health and finances, you can get help by using CANSA’s free eKick Butt programme.
Find more financial advice in these articles on the blog:
The information in this article is for information purposes only and does not constitute professional advice.
References: Do not upload