Beaudin Groupe Conseil - Demystifying debt, credit

So, you want to quit smoking! Great!

Today is “World No Tobacco Day”, a World Health Organization initiative destined to encourage people to quit smoking. Let’s talk about what happens when you quit smoking: money appears!

But before we start counting the money, here is a quick look at the health advantages of quitting:
•    A reduction in the risks of cancer or cardiovascular disease
•    An increase in lung capacity and a revival of your sense of smell
•    A reduction in the risk of respiratory illness or complications in case of infection. (Oh! COVID)

Now, let’s talk money! In March 2020, the average carton of cigarettes cost 125,84$, or 15,73$ per pack. For the one-pack-a-day smoker, that’s a lot! Here’s how to measure the impact and motivate yourself if you decide to quit smoking. This is how smoking stacks up:
One day without smoking: 15,73$.
•    A good sushi snack with a drink from a local sushi restaurant in Québec City.
•    A replacement for that old cell charging cable that doesn’t work properly.

One month without smoking: about 470$.
•    The minimum payment (3%) on a credit card with a balance of 15,730$.
•    A luxury meal at one of Québec City’s most famous restaurant’s, for two, including wine, taxes and service.

One year without smoking: 5,741$
•    Just a little less than the maximum yearly contribution to a TFSA (the maximum is 6,000$)
•    A 13-day trip to Europe, for two, including airfare, hotel, fees and taxes (offered by a large Canadian travel agency).

After five years without smoking, if you choose to save and invest all that cigarette money, you could have saved up around 30,000$.
That looks like a down payment on a house!

All said, quitting is not easy. It is better to talk to your pharmacist or doctor when you are ready. Your physical and mental health will both be better off, and so will your wallet.
Please contact us with any financial question. A licensed insolvency trustee from Beaudin Groupe Conseil will help you find the best solution to tackle your debt.


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