Want to save $1 million? Stop smoking.
There are more than 66 million tobacco users in the United States, and they spend more than $320 billion a year on cigarettes and health care for smoking-related illnesses, according to WalletHub.
That sum includes nearly $170 billion in direct health-care costs and more than $156 billion in productivity lost to premature death and secondhand smoke exposure.
The personal finance website calculated the potential monetary losses of smoking by tabulating health care expenditures, the cumulative cost of a cigarette pack per day over the course of several decades, income losses and other expenses.
On average, the financial cost of smoking in the United States is roughly $1.6 million per smoker over a lifetime — that's upwards of $31,000 annually. In New York, that cost is nearly doubled. Smokers can expect to pay more than $2.4 million throughout their lifetime — $48,093 per year — while living in the Big Apple.
The states with the highest lifetime smoking costs are:
- New York — $2.45 million per smoker
- Massachusetts — $2.27 million per smoker
- Alaska — $2.24 million per smoker
- Hawaii — $2.19 million per smoker
- Connecticut — $2.14 million per smoker
The states with the lowest lifetime smoking costs are:
- Louisiana — $1.23 million per smoker
- Kentucky — $1.24 million per smoker
- Missouri — $1.25 million per smoker
- West Virginia — $1.26 million per smoker
- North Carolina — $1.26 million per smoker