Giving up smoking could aid debt management
Giving up smoking could aid debt management
- Wednesday, 10 March 2010Smokers who choose to give up the habit could also take significant steps towards becoming
debt-free, it has been revealed.
Research by financial company Defaqto reveals that smokers could save up to £1,640 a year by quitting, and could also benefit from cheaper life insurance.
Ben Heffer, insight analyst at Defaqto, said a smoking male aged 25, wanting £100,000 of life insurance, will pay on average 62 per cent more than if he was a non-smoker.
"Typically, for a 25-year-old in good health a £100,000 of cover costs between just £5 and £7 per month, roughly the cost of 20 cigarettes; a smoker could pay as much as £10 or £12 per month," he said.
Meanwhile, today (March 10th) is the UK's annual No Smoking Day.
According to the official website, one in 12 women, or 366,000, used last year's campaign to kick the habit.
New surveys indicate that over two million smokers are preparing to give it up for good at the 2010 event.
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