The Financial Effects Of Smoking
This is the reason why despite the fact that smoking can be so hazardous for health, governments still allows for smoking in their countries due to the trillions of dollars in wealth . Yet smokers are still not aware of the financial burden and amounts spent on the cigarettes they smoke .
Not only does smoking affect you financially directly, but smoking also affects a person indirectly in financial terms. For example, when you smoke, it consumes time. When you smoke at your work place, you will consume lots of time collectively and thus lead to loss of productivity.
When it comes to buying cigarettes, the accumulation of purchase can amount to a very large spending. A pack of cigarettes of smoked each day can amount to thousands of dollars each year. The loss is not only the loss of the money spent on cigarettes itself, but also the loss of opportunity cost of spending the money elsewhere.
Imagine if you would to invest and compound your savings every year , you could basically have a huge amount for your retirement. Even if you do save the money, your money could also be spent on other fruitful things such as a vacation with your family .