By Amanda Cuda
To commemorate Tobacco-Free Awareness Week, the site released its report on The True Cost of Smoking by State.
To encourage the more than 66 million tobacco users in the U.S. to kick the dangerous habit, WalletHub’s analysts calculated the potential monetary losses — including the cumulative cost of a cigarette pack per day over several decades, health care expenditures, income losses and other costs — brought on by smoking and exposure to secondhand smoke. The list ranked states from the lowest to highest lifetime costs of smoking and annually costs of smoking.
Connecticut ranked 47th on both lists, making it one of the most expensive states to be a smoker. The lifetime cost of being a smoker in Connecticut is $2,138,139 and the annual costs are $41,924. The site calculated not just the out-of-pocket cost of smoking — $152,848 per smoker in Connecticut over a lifetime — but also other expenses, such as healthcare costs ($241,423 per smoker in Connecticut, the most expensive in the country), and the financial opportunity cost per smoker, which the amount of return a person would have earned by instead investing that money in the stock market over the same period. The lifetime financial opportunity cost per smoker is $1,445,342.