Smoking ban 'to fight personal debt'
The impending smoking ban is likely to have as big an impact on debt and personal finances as it has on the nation's health, according to new reports.
Action on Smoking and Health (ASH) has found that a third of smokers in the 18 to 24 age category will quit on or before July 1st. As many as four million smokers will quit in all, driven by the clampdown on smoking in public places.
Research by Alliance & Leicester Savings suggests that a 20-a-day smoker could save £1,909 a year by giving up. Investing this money sensibly could push the total even higher, allowing individuals to pay off outstanding debts.
Huge savings can also be made by those who only smoke socially, the report points out. Quitting a 20-a-week habit would lead to an annual saving of £280, which could again be used to settle credit card debts or other arrears.
Ross Dalzell, manager for Savings at Alliance & Leicester, said: "Kicking the habit isn't an easy thing to do, but the benefits speak for themselves. 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."
The ASH research indicates that 78 per cent of people are in favour of the smoke-free legislation, with only 14 per cent opposed to it.
Source: themoneyhighstreet.com
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