How much could does smoking cost you – and how much could you save if you quit or switched to vaping?
For one customer of ours, the difference in the costs meant she could buy a house.
But first, why not calculate how much you could save by using our calculator:
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Cost of Smoking (based on £ per pack)
A Summary of what you’ll spend on smoking in the rest of your lifetime.
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1 The amount you will spend on tobacco in the rest of your lifetime. Based on the average life expectancy in the UK of 81 years, Office of National Statistics.
Vapings Costs & Savings
A summary of the cost of vapings costs and how much you can save when compared to smoking.
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2 How much you will save per year if you switch to vaping from smoking.
3 How much you will save in your lifetime if you switch from smoking to vaping today.
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The financial cost of smoking
To work out the cost, we took the average number of cigarettes smoked a day (11)1.
To stay on the conservative aside, we took the cost of the cheapest cigarettes available, Rothman’s Blue.
The cost per year comes to £1,644 per year. Assuming a smoker is 25 years old, that could come to £93,184 over a lifetime2. That’s enough to buy a sports car or a private island!
What if you invested the money?
Just for fun, we also calculated what you’d have if you chose to invest, instead of spending, the savings over your lifetime.
According to Prudential, the returns over investment in bonds over the long term has been 4.6%, while the long term investment rate for stocks has been 5.2%.
Assuming these returns continued, investing your monthly savings in bonds would result in a £438,783.96, and investing in stock market would earn you £551,977.45 (both calculated over the lifetime of a 25 year old.)
Of course, there’s some big assumptions there, but this does go some way to showing the true cost of smoking!
But what if you can’t quit nicotine? Here’s what you could save by switching to vaping…
Of course, many smokers want to quit smoking but haven’t yet been able to.
But if you switch to vaping you could still make massive savings.
The price are based on 2x 10ml e-liquid bottles per week, assuming £3.33 a bottle (which applies, when buying 10 at a time, to a number of brands on our website), which should be enough for someone smoking 11 cigarettes a day.
The calculations assume average usage and the use of a low powered, basic e-cig model – as any advanced vaper will tell you, if you use top end, high powered models the cost can rapidly increase.
Real Life Example
A great real life example is Julie Parnell. Back in 2012 Julie worked out she was spending £400 a month on cigarettes.
She wanted to buy a house, and had saved enough for a deposit, but couldn’t afford both a mortgage and cigarettes.
After switching to electronic cigarettes, she was then able to afford a £350 month mortgage payments – enough to purchase a three bedroom semi in Wellingborough, Northamptonshire.
- Average cigarettes smoked 11.3, Office of National Statistics.
- Based on the average UK life expectancy in the UK.