The moment that you become a parent, the future counts for more that it has ever done before. You have an innate desire for your children and your children’s children to have happy, safe futures. You want to be around to see them grow into adulthood. If you are a smoker you will want to stop smoking to preserve your health so that you can see this future.
As well as their future health, families also look at their financial future; making sure that any dependents will be financially secure.
The tobacco tax escalator
In this year’s Budget Chancellor Philip Hammond increased tobacco duty yet again last month. Tobacco duty has been rising for years due to the ‘tobacco tax escalator’ – and it will continue to rise. With smoking becoming increasingly expensive, family members need to quit smoking for the financial security of their loved ones.
One packet of 20 cigarettes costs £10.40 in the UK and that price keeps going up.
If you smoke one pack of 20 cigarettes a day for ten years at today’s UK price you will spend a whopping £37,960.
Just think what you could do for your family with this money. You could put the savings towards a deposit on a house.
However, smoking is so exceptionally addictive that even with the best will in the world, even with the desire to be there for your family, it can be a huge challenge to give up. This is why the NHS promotes vaping as a way of giving up smoking and the cost to vape using e-liquids is hugely cheaper than smoking . Vaping cost of hundreds of pounds per year as opposed to thousands – your family can benefit financially from that difference.
What your family could save by switching to vaping
According to the Centre for Economics and Business Research, due to increasing childcare and education costs, the average cost of raising a child to the age of 21 in the UK is £231,843 and rising. It is expensive – you have to find the money for food, bedrooms, clothes, activities – the list is endless.
The added cash for your family that switching to vaping will give you will be a bonus alongside better health. Your loved ones will no longer suffer by passive smoking.
If you don’t smoke for one month you will have a huge saving of £316.33, which is near to the cost of using vaping devices for an entire year! This saving could pay for your children’s clubs and hobbies each month, or perhaps you need this money to pay off some debt. You could also put it in a savings account towards your children’s futures.
By not smoking cigarettes for one year you will save an incredible £3796. With this, you could set up university funds for your children, or pay a lump sum from your mortgage. Or perhaps you could go on a family holiday – spending precious time together on holiday is invaluable.
Other cost saving advantages for your family include:
- Benefits to the family health – less money spent on medication with fewer sick days and fewer costly trips to the dentist.
- Benefits to the family home – lower risk of fire in your family home, less money spent on redecorating due to tobacco stains and less money spent on products to take the smoke smell away.
Any family today must factor in the cost of smoking continually increasing year on year when projecting their family budget into the future. If there is a smoker in your family you will all be suffering the financial consequences and it is set to get worse. It is wise to make the swap to vaping as soon as possible so that your family can start benefiting – both in health and finance.