UK smokers burning a hole in their pockets

UK smokers who’ve carried on puffing since ‘National No Smoking Day’ in March last year have seen almost £12.5 billion of potential savings go up in smoke.

More than 13 million people in the UK have continued to smoke since the last ‘National No Smoking Day’. This is despite the ban on smoking in public places in England which came into force on 1st July 2007.

However according to research by Yorkshire Bank, the 1.1 million who stubbed out last March have saved over £1 billion in the past twelve months – enough to pay for 200 new cancer care units or fund almost 22,000 specialist cancer care nurses.

Gary Lumby, Yorkshire Bank’s head of retail, said: “It’s all too easy for long term smokers to forget just how expensive their habit actually is, but those smoking just ten cigarettes a day could easily save almost £1,000 during the course of a year. By putting the money they’d normally spend on cigarettes in an ISA or high interest savings account, smokers will soon see those savings adding up, particularly if there is more than one smoker in the household.”

Cigarette Capital of the Country

In total, around 47 billion cigarettes were sold in the UK over the past 12 months. The North East has the highest percentage of smokers in the UK, with over 10% of their residents spending a total of £1.3 million on cigarettes each year. The lowest total cigarette spend in the country can be found in the West Midlands, where 8% of the population currently spend £1 million on their smoking habit.

Good reasons to give up

In addition to the financial benefits, there is a long list of good reasons to give up smoking. Those who commit to kicking their habit on this year’s ‘National No Smoking Day’ (12th March) can look forward to having more energy, as well as looking and feeling younger as they stop the premature ageing effects of smoking in their tracks. They will also have lower stress levels, whiter teeth and an improved sense of taste and smell.

Non smokers lead a richer life

While the health benefits of becoming a non smoker are obvious, many smokers won’t be aware of the additional financial benefits they can look forward to. Smokers who decide to quit will not only dramatically cut their chances of developing smoking related illnesses – they’ll also cut their insurance costs too.

Gary Lumby said: “Smokers will soon find it’s not just the money they’d normally spend on a packet of cigarettes they’re saving - there are other savings to be had as well. Non smokers can expect to pay far less for life and health insurance and in some cases could even see a cut in the cost of their home insurance with the reduced risk of fires in the home.”