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3 bad habits that cost thousands over the course of a year
There are a lot of reasons people consider quitting smoking. It's terrible for your health, addictive and an all-around tedious habit to keep, but for anyone on a budget, the savings may be one of the most desirable outcomes of kicking cigarettes for good. A report by WalletHub this year found that the average smoker spends roughly $1.1 million on the addiction over the course of a lifetime.
Unless you're following a frequently updated budget, it can be easy to let your spending get away from you. When you're filling out paid surveys, every penny counts, so put a few of those habits into perspective. Here's how much a few cost over the course of a year.
So those smoke breaks could cost hundreds of thousands of dollars over the course of a lifetime. The WalletHub report considers health costs, income loss, the price for the cigarettes themselves and more. If you're a first-time smoker, the other factors may not affect you immediately, so start by considering the full cost to fund the habit over a year.
Pfizer and U.S. Pharmaceuticals put together a nifty table extrapolating the costs over time. If you're lucky enough to find a pack of cigarettes for under $6 and you only smoke half that amount in a day, you're still paying over $1,000 per year to smoke.
Eating fast food
Figuring out how much those casual trips to fast food restaurants cost can be a little trickier. Food is more of a necessity than smoking, yet that still doesn't mean you have to take trips to a place that sells burgers, fries and other fried foods every day. Other than your arteries, you could be hurting your wallet.
A study published in 2010 by the Society of Teachers of Family Medicine showed just how badly it could affect your bank account, according to SFGate. Buying healthy foods at a grocery store will cost around $5,019 over the course of a year, according to models constructed by the source. In comparison, models that use convenient food sources like fast food chains primarily cost roughly $10,298 over the course of a year. You could potentially cut your food budget in half just by grocery shopping more and staying away from the guilty pleasure restaurants.
The costs of binge drinking can be tremendous if you consider all the possible outcomes. Landing a DUI can boost your insurance rates, drinking hefty amounts over a long period can cause liver damage and health costs, and even responsibly drinking and taking a cab home from a bar can add up.
Even the most conservative drinking budget still costs a pretty penny. Bankrate noted that just five drinks per week at a cost of $6 each will add up to $1,560 in a year. If you enjoy going to expensive bars or drinking cocktails, that tab could easily soar over $2,000 and beyond.
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