Holy Smokes! Some People Spend 25% of Their Income on What?!

Date: Sep 22 2012

Filed under: Personal Finance

25% of income goes to cigarettes?!As far as money-draining (and life-shortening) habits go, smoking is a popular example of one to give up. Now there’s a new report that makes an even more dramatic financial case for quitting: In New York State, which levies some hefty taxes on tobacco, low-income smokers are spending roughly on cigarettes.

If you’re feeling relieved that you live in one of America’s 49 other states, don’t rest so easy. The national average is about 14% of smokers’ incomes spent on…

Holy Smokes! Some People Spend 25% of Their Income on What?! originally appeared on DailyFinance.com on 2012-09-22T06:00:00Z.

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