By Admin 
Smoking Financial Loss Calculation: It is often seen that people cite lack of money as the reason for not being able to save, but sometimes the real reason is our own habits. To which we do not even pay attention.
Some small spending habits gradually cause huge financial losses and we do not even realize it. One such habit is smoking cigarettes, which people keep ignoring as a common expense.
Actually, cigarettes not only affect your health but also your pocket. Small expenses every day turn into huge amounts in months and years, which harms both your savings and investments. Money Control According to a report published in Hindi, it is important to understand that cigarette smoke is not limited to the lungs only, but also gradually harms your financial condition. Let us know about this…
Sharp rise in cigarette prices over time
There has been a sharp increase in the prices of cigarettes in the last two decades. Due to which the financial burden on cigarette smokers has also increased continuously. The packet which was available for around Rs 59 in 2005, reached Rs 96 by 2010 and Rs 200 in 2015.
After this, it will increase to around Rs 300 in 2020 and to around Rs 480 in 2026. Overall, its prices have increased by about 713 percent in 21 years. That means the cost of cigarettes has increased manifold.
This habit becomes a big mistake, not an expense.
If we look at it from a statistical point of view and estimate that on an average a cigarette smoker smokes 10 cigarettes every day, then the amount spent on cigarettes is not just an expense, but a big lost opportunity.
Suppose that every year about Rs 87,600 spent on cigarettes is saved and invested in SIP. Based on the potential return of 12 percent in the long term, a corpus of Rs 35 to 40 lakh can be created. This means that by giving up one habit, a person has the power to drastically improve his financial situation.
Playing with health as well as finances
The impact of cigarettes is not limited to money only, but also takes a toll on health. Smoking cigarettes regularly increases the risk of cancer, asthma and many respiratory diseases.
If we consider an average expenditure of Rs 500 per month on a doctor, then Rs 6,000 can be spent annually and in 40 years, about Rs 2.4 lakh can be spent only on treatment. The cost of medicines will be different. If the disease progresses, lakhs of rupees can be lost in a few months.
Also read: Brokerage firm Nuvama’s big bet on this stock! Expected to rise up to 49%, investors will be happy…