Study shows smoking costs the average Texas smoker $1,778,428 over a lifetime
UNITED STATES — Smoking doesn’t just ruin your health. It can also burn a nasty hole through your wallet.
Tobacco use accounts for nearly half a million deaths in the U.S. each year and is the leading cause of lung cancer, according to the American Lung Association.
Even those around tobacco smokers aren’t safe from its harmful effects. Since 1964, smoking-related illnesses have claimed over 20 million lives in the U.S., 2.5 million of which belonged to nonsmokers who developed diseases merely from secondhand-smoke exposure.
However, the economic and societal costs of smoking are just as huge. Every year, smoking costs the U.S. more than $300 billion, which includes both medical care and lost productivity. Unfortunately, some people will have to pay more depending on the state in which they live.
With the economic and societal costs of smoking totaling more than $300 billion a year and rising, the personal-finance website WalletHub Wednesday released its report on The Real Cost of Smoking by State as well as accompanying videos.
To encourage the estimated 37.8 million tobacco users in the U.S. to kick the dangerous habit, WalletHub calculated the potential monetary losses — including the lifetime and annual costs of a cigarette pack per day, health care expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke.
The Financial Cost of Smoking in Texas (1=Lowest, 25=Avg.):
Out-of-Pocket Cost per Smoker – $115,413 (Rank: 27 th )
Financial-Opportunity Cost per Smoker – $1,270,127 (Rank: 27 th )
Health-Care Cost per Smoker – $142,370 (Rank: 13 th )
Income Loss per Smoker – $232,768 (Rank: 30 th )
Other Costs per Smoker – $17,751 (Rank: 51 st )
Total Cost Over Lifetime per Smoker: $1,778,428
Total Cost per Year per Smoker: $34,871
To take a closer look at each state’s costs over a lifetime and costs per year, please visit:
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