The Financial Cost of Smoking by State – WalletHub Study
From Wallet Hub January 20, 2015
With this week being Tobacco-Free Awareness Week, the societal and economic costs of smoking totaling more than $301 billion a year and rising, the leading personal finance social network WalletHub conducted an in-depth analysis of The Financial Cost of Smoking by State.
To encourage the more than 60 million tobacco smokers in the U.S. to kick the dangerous habit, WalletHub’s analysis estimated the financial cost of smoking to be roughly $1.4 million per smoker over a lifetime.
| States with the Lowest Smoking Costs |
|
States with the Highest Smoking Costs |
| |
1 |
South Carolina |
|
42 |
Washington |
| |
2 |
West Virginia |
|
43 |
Vermont |
| |
3 |
Kentucky |
|
44 |
District of Columbia |
| |
4 |
Mississippi |
|
45 |
Hawaii |
| |
5 |
Georgia |
|
46 |
New Jersey |
| |
6 |
Tennessee |
|
47 |
Rhode Island |
| |
7 |
Alabama |
|
48 |
Massachusetts |
| |
8 |
Missouri |
|
49 |
New York |
| |
9 |
North Carolina |
|
50 |
Connecticut |
| |
10 |
Louisiana |
|
51 |
Alaska |
Key Stats
- The cost of tobacco for every smoker is $1,029,646 over a lifetime. Smokers in Alaska will pay two times more than smokers in South Carolina.
- Each smoker will incur an average of $212,878 in income loss over a lifetime.
- Each smoker will incur an average of $157,294 in smoking-related health care costs over a lifetime. Smokers in Connecticut will pay two times more than smokers in Arkansas.
To read the full report and to see where your state ranks, please visit:
http://wallethub.com/edu/the-financial-cost-of-smoking-by-state/9520/
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