An estimated 36.5 million Americans still smoke cigarettes, and while the habit causes its share of health damage, smoking can also drill a deep hole in your wallet.
According to a new study by personal finance website WalletHub, Georgia has the third lowest “true per-person cost of smoking” of all 50 states and Washington, D.C., but the number might still surprise you.
According to the study, Georgia’s lifetime cost per smoker is $1,155,351 and its annual cost is $22,654, ranking it right behind Kentucky and North Carolina.
To come up with the ranking, analysts calculated each state’s potential monetary losses due to smoking, including the cost of a cigarette pack per day over many decades, income losses, health care spending and more — all assuming a smoking adult began smoking at age 18 and has one pack of cigarettes a day.
Data were collected from various sources including the U.S. Census Bureau, Bureau of Labor Statistics, Centers for Disease Control and Prevention and Insurance Information Institute.
According to WalletHub, the state with the highest “true per-person cost of smoking” is New York with a lifetime cost of $2,313,025 and annual cost of $45,353.
2. North Carolina
1. New York
4. Rhode Island