Monday 28th of February 2011
People who are already deep in the red may find smoking cigarettes is adding to their debt woe and could be contributing to their need to ask individual voluntary arrangement questions.
New research from moneysupermarket.com has found smokers could save themselves an average of £6,659 by stubbing out their addiction.
The price comparison website noted this could be achieved on combined critical illness cover and life cover - while £1,571 might be put to better use with a single life insurance policy.
Moreover, with the price of a 20-pack of cigarettes standing at around £6.42, users could save in the region of £1,846 a year by quitting.
Emma Walker, head of protection at the portal, said: "Not only can smokers reap the medical benefits by kicking the habit, but they can avoid letting their hard-earned cash go up in smoke too."
Other research collate by moneysupermarket.com recently showed people in Britain are wasting a collective £2.3 billion a year on unnecessary credit card interest.
By Kimberley Parsons
