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Make money your motivation to stop smoking

Less people are smoking, yet quitting is still a struggle for some. So if you’re in need of help in stubbing out that last ciggie, have a think about how much your habit is costing you.

A 20-a-day smoker will spend around £3,600 a year on premium brand according to the charity Ash. That’s a lot of money, just under £10 a day. Even a lighter smoker who make a pack last a week will be spending more than £500 a year.

So, if you struggle to find enough money each month – whether that’s for savings or spending elsewhere – this is your potential cash cow. In fact, using money spend of cigarettes to build a savings pot could be worth even more money. That’s because having a pot of cash to use instead of borrowing is far, far cheaper.

Set a savings goal

To help you stick to saving rather than smoking, think of something you’d want to use that money for instead. That could be a holiday, a car, towards a deposit on a home or even to build up an emergency savings pot. Then each time you think about buying a pack of smokes, you can visualise what you’re giving up instead.

A savings goal is also proven to help any savers keep motivated – so you might find you’re putting more in the pot than just the money you would have spent on cigarettes.

Of course it’s easy to just spend that money elsewhere, so try to keep your savings in a separate account to your normal spending. You should also try to find the best interest rate you can to make that money earn you a little extra cash on top.

The cost of giving up

Of course, if you do try to quit, you might not see all that money back in your pocket. You might reduce how much you smoke to start off rather than going cold turkey.

Or you might try vaping and e-cigarettes, which come with both upfront and ongoing costs.

So factor these expenses into your budget and how much you’re likely to save.

More help to quit smoking

As useful a motivation as money can be, you might still need some extra help if you’re trying to quit. visit NHS Smokefree for tips and support to kick the habit.

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