2. Smoking & Vaping
Not only is this harmful to you, but poor people spend more money on smoking and vaping than any other socio-economic status. In fact, it’s often the lowest socio-economic groups that spend more money on gambling and smoking when an average price for a pack of cigarettes is a little over $6, though many states are increasing the cost to up to $10 per pack.
This means that you will spend around $200 on a pack of cigarettes every month, especially if you go through a half of a pack to a whole pack every day. To put this into perspective, without inflation, the cost you spend on cigarettes every year is $2,400, and the price for ten years is $24,000. Now, take a moment to think about what you can spend that money on, such as repairs to your car or even save up for a new car or house. Of course, you could also put that money into savings for your retirement. If you want to stop smoking, there are multiple ways, such as reading a self-help book or going to the doctor.