Giving up smoking ‘could ease debt concerns’

People with debt troubles could lessen the burden by giving up smoking, new research has suggested.

A study conducted by moneysupermarket.com has revealed individuals who kicked the habit when the smoking ban came into effect could have saved around £9,150.

The figure took into account the idea £4,950 would have been kept in regard to critical illness cover premiums and £4,190 might not have been spent on the cost of cigarettes.

Consumers could also make savings on single life insurance cover of around £11.10 each month, the report showed.

Emma Walker, head of protection at the price comparison website, remarked it is disappointing Brits are continuing to purchase cigarettes as “those still puffing away are effectively letting their hard-earned cash go up in smoke”.

Asda’s recent Income Tracker Report revealed disposable income in Britain had plummeted by £8 a week, while transport costs had risen by 11 pence and food bills had escalated by 2.8 per cent.

By Joe Shervin