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Monetary value of Quitting Smoking. Smoking vs. Cost.

Updated on June 13, 2012

Quit Smoking

Smoking away our retirement.
Smoking away our retirement.

Smoking vs. Cost


I’m a smoker, I’m 30 years old. I’m more concerned with the health of my family members right now than I am my own, how ever silly that may be. If we can’t convince ourselves right now to consider quitting because of health reasons, what about thinking about the money we spend on these awful things.


I smoke a super discounted brand which costs me about $130 per month. If I were buying any leading regular brand I’d be spending 60% more than that! Per pack I spend $4 as opposed to $10 which is the price of many preferred brands.


Let’s see what we could do with that money instead:


If I put that monthly $130 into a non registered investment for 30 years by the time I was 60 years old that would be an extra $218,000!!! This is after tax capital! (Based on a return of 8% and 3% inflation and a low 21% tax bracket.)


If I had a higher tax bracket, say 32% and put this into an RRSP instead I could end up with a market value investment worth $248,000!!! (Based on same return rate and inflation.)


So, here’s what I’m thinking…


I could keep on smoking, which makes me feel crappy anyway and have that wasted money doing nothing for me other than ruin my health or I could quit; put that money away and have a sweet pile of money waiting for me when I retire to do whatever I want with. Hmmm…rocket science? Maybe we’ll actually make it to retirement if we quit!


Again, this is based on $4 packs of cigarettes, the numbers based on the $10 packs would be atrocious! This is only a financial aspect of quitting, the benefits of doing so are endless but that’s a whole different blog ;)


In terms of the financial rewards this is just a start. The more you build your assets the more options you have to benefit from other wealth building strategies. More blogs to come…


By the way, I really am considering quitting. I’d love to, I need to and showing myself and others some of the rewards only motivates me more! To all the other smokers out there, I hope this helps you too!


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    • ThePyratez Kydd profile image

      Francis Gachoka Mwangi 4 years ago from Nairobi

      quite inspirational; I'm working on cutting this habit out but it ain't an easy task, esp if living with lots that influence the habit!

    • angelmariaaa profile image

      Angel Maria 4 years ago from United States of America

      I have to agree with you. My parents and I both smoke, and I honestly have to say that it was the dumbest decision any of us could have made.

    • Rizzodi profile image

      Jake Williams 4 years ago from Pittsford, New York

      I am a chain smoker but I quit smoking almost 4 months. I believe that people can quit smoking if they want and of course discipline to their self is important.

    • Insane Mundane profile image

      Insane Mundane 4 years ago from Earth

      Looking at the financial aspects is often easier to motivate a person to quit smoking than for health reasons, for whatever reason.

      I've briefly quit a few times, but a person has to really want to quit, to stay with it.

      I've tried the cut back method, the ultra light method, cold turkey, and the e-cig thingy. If you can't just put 'em down and money is not a problem, I'd go with the electronic cigarette. Other than that, the step down method helps ease the withdrawal and irritability when you do put them down for good. Speaking of that, I need to start cutting back; blah!

    • thedigitalmom profile image

      Patricia 4 years ago

      Me too, I've never picked up a cigarette in my life :)

    • Kalux profile image

      Kalux 5 years ago from Canada

      hehe thanks for the extra inspiration, nrgfwd! :)

    • Kalux profile image

      Kalux 5 years ago from Canada

      Oh, dccutler, I'm envious of you never having started this terrible habit.

    • dccutler profile image

      David C. Cutler 5 years ago from Northwest Arkansas

      I've never picked up a cigerette in my life, but i've seen how hard it is for people stop: not pretty.

    • Kalux profile image

      Kalux 5 years ago from Canada

      Thanks, JustWrite7. I thought it was a different perspective for those who may need the extra motivation. (However, I have yet to take my own advice) Way to go on quitting! Keep it up, you've already got 5 days under your belt, that's great! Rootin' for ya. :)

    • JustWrite7 profile image

      j.d. williams 5 years ago from Dallas, TX

      well, now!

      i'm 29 and have been smoking for about 5 years. after getting sick last month and realizing that my smoking made the illness feel alot worse than what it was, i decided to quit. for health reasons.

      now...ask anyone who knows me, i budget every single penny. each payday, i know exactly what each dollar will be used for. see you shed light on the financial reasons to quit is BRILLANT. especially since my cigs are the $10 packs.

      anyhow, thanks for shedding the light...although reading about cigs makes me want is day 5


    • Kalux profile image

      Kalux 5 years ago from Canada

      Thanks, Liz! I recently learned of two friends who also used the e-cig and both of them successfully quit! I'm definitely going to give it a whirl since I haven't been able to do it so far.

    • Liz-reviews profile image

      Eunice Elizabeth 5 years ago from Vancouver, BC

      Hi Kalux

      A co-worker of mine is trying to quit, she's doing it in stages.

      She stopped smoking regular cigarettes, and started smoking an e-cig that has nicotine which she bought in Canada. All the other chemicals that are in regular smokes have been eliminated and the nicotine mix she uses has food grade flavors added, so half the time she smells like watermelon or french vanilla...not smoke. No second hand smoke for others around her. If you do go for the cold turkey version, make sure you take lots of vitamin C & B for the detox effects...either way best of luck. I'm cheering you on.

    • Kalux profile image

      Kalux 5 years ago from Canada

      Thank you for your comments, Kenneth and DDE. Yes, smoking is terrible. I'm ashamed to admit that I am still an avid smoker.

    • DDE profile image

      Devika Primić 5 years ago from Dubrovnik, Croatia

      Smoking is a bad habit that most people don't understand and will smoke again and again, even if they try to give up they go right to the beginning and smoke more than what they used to.

    • kenneth avery profile image

      Kenneth Avery 6 years ago from Hamilton, Alabama

      Greetings in Peace, Kalux, GREAT read. Voted up, Awesome, Useful, Beautiful and Interesting. Not funny being a smoker, but I am glad to say, that I DO NOT use tobacco in any form. Thank God! Or alcohol! That sounds so self-absorbed, but if you knew me, you would think that I am very obscure. I do not like to be the center of attention, so I am sorry for that remark. I love your writing style. Keep it up. I am now a fan. Sincerely, Kenneth Avery, Hamilton, Alabama, a small town in rural northwest Alabama that resembles the town where Andy and Barney worked, Mayberry.

    • Kalux profile image

      Kalux 8 years ago from Canada

      I quit once using the patch although this time I'm just working up to a date and going cold turkey.

      It's rough, no doubt about it. Just keep trying and you'll get it eventually! All the best!

    • jem credit cards profile image

      jem credit cards 8 years ago from United States

      Verry informational you got me thinking about quiting. any tips on what is a good way i tried the gum quit for a couple weeks and i gotta say i broke down recently and had my first smoke again.