Poor lifestyle choices adding to debt concerns?

It appears many people in Britain who are already struggling to keep on top of their debts may be exacerbating their problems through the poor lifestyle choices they make – such as failing to give up smoking.

New research by Moneysupermarket.com has found individuals who are able to kick the habit will see many financial – as well as health – benefits.

The study revealed smokers could save more than £9,000 on life cover by quitting cigarettes, prompting the price comparison website to urge people to stop buying the products as part of their New Year resolutions.

It showed adults in the UK can put aside £9,225 on combined Critical Illness Cover and life cover – or up to £1,725 on a single life insurance policy.

Moreover, a person could save him or herself around £1,547 every 12 months if they decide to go smoke-free, as the average price for a packet of 20 cigarettes currently stands at £6.29.

The portal observed 22 per cent of women – just over a fifth – and 30 per cent of men – a little shy of a third – are now ex-smokers.

What’s more, it claimed two-thirds of those who still purchase cigarettes are eager to give up the habit altogether.

Protection expert at Moneysupermarket.com Emma Walker said: “New Year is often the time when people make promises to themselves to be healthier – but kicking the habit would benefit your wallet too.”

The figures come after research by R3 found nearly four-in-ten Britons already struggle to make their wages last from one month to the next.

By James Francis