MEMPHIS, TN (WMC) - With the economic and societal costs of smoking totaling more than $300 billion a year and rising, the personal-finance website WalletHub has released its report on The Real Cost of Smoking by State, as well as accompanying videos.
To encourage the estimated 37.8 million tobacco users in the U.S. to kick the dangerous habit, WalletHub calculated the potential monetary losses — including the lifetime and annual costs of a cigarette pack per day, health care expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke.
The Financial Cost of Smoking in Tennessee (1=Lowest, 25=Avg.):
Out-of-Pocket Cost per Smoker – $94,378 (Rank: 9th)
Financial-Opportunity Cost per Smoker – $1,038,636 (Rank: 9th)
Health-Care Cost per Smoker – $118,281 (Rank: 3rd)
Income Loss per Smoker – $198,729 (Rank: 8th)
Other Costs per Smoker – $10,638 (Rank: 13th)
Total Cost Over Lifetime per Smoker: $1,460,661
Total Cost per Year per Smoker: $28,640
To read the full report, and see where other Mid-South states ranked, click here.