tag:blogger.com,1999:blog-4340052472108465999.post-47284548015141717882008-03-15T04:47:00.000-07:002008-03-15T04:52:08.150-07:002008-03-15T04:52:08.150-07:00<img vspace=10 hspace=10 src="http://drfarrukhhmalik.files.wordpress.com/2007/10/goldmansmoking-kills.jpg" alt="smoking kills, but at least you look cool" align="right">As a reformed smoker I'm completely against the habit now. I surprise myself how anti-smoking I've become. Even walking beside someone smoking on the footpath is too much for me now.<br /><br />With my new found anti-smoking enthusiasm I always enjoy hearing news reports that confirm my prejudices. That was why I was interested to read an article by Fairinvestment.co.uk today about the financial implications of smoking.<br /><br />Fairinvestment.co.uk took the example of someone smoking 20 cigarettes per day. Based on this they found that that person could spend more than &#163;2,000 per year. Now there is nothing new about reports like this. The punitive taxes on cigarettes are there to encourage people to give up smoking for financial if not for health reasons.<br /><br /><span class="fullpost">However Fairinvestment.co.uk went a step further. Rather than just saying that a smoker is spending &#163;2,000 per year on a habit that is killing them they also related this to the persons financial health. The money that a smoker spends on cigarettes could alternatively be used to pay off outstanding debts for credit cards or <a href="http://www.earth.co.uk/">Mortgages</a> quicker and therefore cheaper. <br /><br />Therefore the &#163;2,000 that a smoker spends every year on cigarettes is costing them much more in extra interest that they could avoid paying if they paid off their debts sooner.<br /><br />In addition to the higher life assurance costs associated with smoking it is worth thinking about that the habit is also taking you longer to pay off your mortgage. Since you are also likely to die younger too that means that the period of time in which you can fully enjoy the ownership of your own home is being shortened in every direction.<br /></span>Sean McGoldrickhttp://www.blogger.com/profile/11164749665674406271noreply@blogger.com2