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Lifetime costs of smoking: $1 million?

smokingHow much does smoking cost you over a lifetime? It’s likely you wouldn’t guess more than $1 million. But it’s actually well over a million, according to a new study by WalletHub.

The study puts the lifetime cost to a smoker in Virginia at $1.35 million, which is, yeah, wow.

To encourage the more than 66 million tobacco users in the U.S. to kick the dangerous habit, WalletHub’s analysts calculated the potential monetary losses — including the cumulative cost of a cigarette pack per day over several decades, health care expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke.

 

Smoking costs: Breaking it down

  • Out-of-Pocket Cost per Smoker – $91,418
  • Financial Opportunity Cost per Smoker – $864,459
  • Health-Care Cost per Smoker – $128,766
  • Income Loss per Smoker – $264,351
  • Other Costs per Smoker – $9,861
  • Total Cost Over a Lifetime per Smoker: $1,358,856

 

 
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