Money matters: how long will you be able to save money by making the switch to e-cigs?

Money matters: how long will you be able to save money by making the switch to e-cigs?The main reason why smokers switch to electronic cigarettes is to be able to find a tool that will aid them in their goal to quit smoking. For some, they simply want to have a healthier alternative to traditional tobacco products.

However, those are not the only motivating factors for the switch. There are many users who simply can no longer afford sustaining their smoking habit, so they look for a more economical way, and e-cigs are it.

According to financial experts, millions of dollars are saved every year simply by having smokers replace their traditional cigarettes with the electronic version.

There is the inescapable fact that cigarettes are expensive. Today, the average selling price per pack of cigarettes is $6.15. That is definitely a huge leap from the $1.76 per pack price two decades ago. On top of the production cost inherent in these cigarettes, there are also bound to be taxes imposed by the state on these products. And tobacco taxes are not constant, since they change every year. Therefore, you can also expect the cost of cigarettes to increase every year.

But those are not the only costs related to smoking that smokers have to worry about. Health maintenance costs will also increase, since they will spend money on preventive measures that will protect them from nicotine- or tobacco-induced illnesses. Those who succumb to illnesses caused by cigarette smoking and cigarette smoke, as a whole, will also find themselves spending thousands of dollars on hospital bills, doctors’ fees, and medications.

Switching to electronic cigarettes will result to savings. Naturally, the amount of savings will depend on several factors, including the brand, design, and type of the electronic cigarettes. Are they disposable or are they rechargeable? Disposable e-cigs tend to cost more, since they are more convenient to use.

Let us take a look at a smoker living in New York City who makes it a habit to smoke one pack of cigarettes in a day. On average, one pack of cigarettes cost $13. In one year, his total spending on cigarettes will reach $5000.

When he decided to switch to e-cigs, he chose a starter kit, which costs as low as $10 and as much as $200. Let us presume that he chose one that is rechargeable, opting to refill the e-liquid himself. One refill of e-liquid is equivalent to 10 days’ worth of one-pack-per-day smoking, and it will cost only around $8, as opposed to the $60+ for 10 packs of cigarettes, with 1 pack consumed daily. We’re looking at more than $50 savings every 10 days. That’s almost $200 savings per month, and $2400 in one year.

Considering how studies show that US smokers spend $2250 every year on cigarettes, the $2400 savings is nothing to scoff at.52-year-old Jim Craig from Salt Lake City had been smoking since he was 18 years old. The moment he felt overwhelmed by the amount of money he has been throwing away on cigarettes, he was jolted into reality and sought the aid of electronic cigarettes.

Craig estimates his monthly spending on cigarettes to reach $200. Once he started vaping e-cigs, his monthly spending has been reduced to only $45. His only investment? An e-cig starter kit. He even had the smart idea of opening an account in the bank where the money he would have spent on traditional cigarettes now go.

But there are some doubts cast on the ability of this cost-savings aspect to last for a long time. With the way many state governments are increasing the taxes, penalties, surcharges and other fees are tightening legislation regarding the use and sale of these e-cigs, something is bound to give along the way. The states of Minnesota and North Carolina have actually imposed taxes on e-cigs and e-liquid. If you are hoping to be able to save money by choosing e-cigs over traditional cigarettes, the best time to make the switch is now. Take advantage of the period where tax considerations are still underway.

Perhaps you know of other financial benefits of making the switch. Share them with other people today!

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