The Money Stop

Smokers are being encouraged to kick the habit ahead of the June 1st ban on lighting up in public.

The health benefits of kicking the habit are clear but Alliance & Leicester is encouraging smokers to look at the financial benefits of stubbing out.

Around 24 per cent of people in England smoke and with the average 20-a-day smoker spending £1,909 each year on cigarettes, their banking situation is suffering as a result.

Alliance & Leicester points out that this money would be better invested in a high interest savings account which would see the saver earn up to £1,962.

“Kicking the habit isn’t an easy thing to do, but the benefits speak for themselves,” said Ross Dalzell, manager for savings at Alliance & Leicester.

“The English population spends billions of pounds on cigarettes each year - money which could be going towards that new kitchen you’ve dreamed of, a two week holiday in the sun, or simply kept as a nest-egg for the future.”

Around 70 per cent of people who smoke say that they want to quit and there is hope for those who want to kick the habit.

Figures show that 21 per cent of women and 27 per cent of men are now ex-smokers.

The smoking ban is introduced in England from July 1st and will mean that lighting up is prohibited in all workplaces, including pubs, restaurants, airports and train stations.

Related Posts

Stub out the interest on your mortgage

People who smoke are prolonging how long it will take them to pay off their mortgage.That is according to mortgage broker John Charcol which says many people could save themselves thousands of pounds by stubbing

Are you smoking away your money?

Smokers are being urged to kick the habit as National No Smoking Day lights up the UK on March 14th.Co-Operative Insurance is calling upon all smokers to give up so that they can improve their

Ex-smokers see financial benefit

For many people the New Year brought with it a resolution to give up smoking.The health benefits of kicking the habit are well known and well publicised, but Sainsbury's Bank says few people consider the

Smoking ban might help first time buyers

One unexpected group to benefit from the smoking ban might be first time home buyers, it has been suggested.Money saved from giving up smoking might be used towards mortgage deposits, according to Abbey National.In fact,

‘Simple steps’ to save money on premiums

There are simple ways of reducing the money paid out on insurance premiums, an industry expert has explained.According to LifeSearch, there are five principal steps in cutting back on unnecessary spending on life cover.It lists

Weight and smoking can influence life insurance premium

People's weight and smoking are two factors which can have a major influence over their life insurance premiums, according to insurance information advisor Life Direct.Insurance companies tend not to consider a customer's level of fitness

Smokers lose money on insurance premiums

Most smokers realize that by kicking the habit they could save a fortune each year, with many smokers spending thousands of pounds each year on cigarettes. However, many forget that in addition to saving money

Life insurance costs can rocket if you are overweight or a smoker

Although it has long since been known that life and health insurance companies charge higher premiums to consumers that are considered a higher risk, such as those that are very overweight or those that smoke,