This week the personal-finance website WalletHub released its report on The Real Cost of Smoking by State.
With smoking costing Americans an estimated $300 billion per year, WalletHub’s analysts set out to calculate the potential monetary losses, including the lifetime and annual costs of a cigarette pack per day. The report also breaks down healthcare costs, brought on by smoking and exposure to secondhand smoke.
There are an estimated 36.5 million tobacco users in the U.S., and that number doesn’t seem to be going down anytime soon.
According to the U.S. Department of Health and Human Services, since 1964, smoking-related illnesses have claimed 20 million lives in the U.S., 2.5 million of which belonged to nonsmokers who developed diseases just from exposure to secondhand-smoke.
The Financial Cost of Smoking in Georgia (1=Lowest, 25=Avg.):
- Out-of-Pocket Cost per Smoker – $86,932 (Rank: 3rd)
- Financial-Opportunity Cost per Smoker – $732,280 (Rank: 3rd)
- Health-Care Cost per Smoker – $122,031 (Rank: 4th)
- Income Loss per Smoker – $202,450 (Rank: 20th)
- Other Costs per Smoker – $11,658 (Rank: 28th)
- Total Cost Over a Lifetime per Smoker: $1,155,351
- Total Cost per Year per Smoker: $22,654
According to the report, the only states where residents spend more on smoking are Kentucky and North Carolina.
For the full report, GO HERE.