With the economic and societal costs of smoking totaling more than $300 billion a year and rising, the personal-finance website WalletHub today released its report on The Real Cost of Smoking by State. In Florida, tobacco costs the average smoker $1,429,458 over a lifetime and over $28,000 in total costs per year. That’s not to mention the serious health costs and risks, including being the leading cause for lung cancer and second-hand smoke exposure.
But health risks are well-known, so perhaps realizing the financial impact of smoking tobacco will help Floridians reconsider. To encourage the estimated 36.5 million tobacco users in the U.S. to kick the dangerous habit, WalletHub calculated the potential monetary losses — including the lifetime and annual costs of a cigarette pack per day, health care expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke. A short summary of the Florida stats are below.
The Financial Cost of Smoking in Florida:
- Out-of-Pocket Cost per Smoker – $109,829 (Rank: 23rd)
- Financial-Opportunity Cost per Smoker – $922,608 (Rank: 23rd)
- Health-Care Cost per Smoker – $179,236 (Rank: 33rd)
- Income Loss per Smoker – $199,512 (Rank: 13th)
- Other Costs per Smoker – $18,273 (Rank: 50th)
- Total Cost Over Lifetime per Smoker: $1,429,458
- Total Cost per Year per Smoker: $28,029
For the full WalletHub report, click here.