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Ex-smokers could save a packet…

Ex-smokers could save a packet…

Category: Savings

Updated: 09/03/2011
First Published: 09/03/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Smokers who quit the habit will enjoy benefits to their wealth as well as their health, it has been revealed.

With today being National No Smoking Day, thousands of smokers are expected to kick the habit, at least for 24 hours.

Research from Santander revealed around 2.2 million Brits made a New Year's resolution to give up smoking this year, but most will have seen their good intentions go up in smoke.

The statistics show that 59% of smokers who make a New Year's resolution to quit will have given in to temptation by the end of February.

However, in an attempt to provide the weak-willed with an extra reason for staying strong, Santander has crunched a few numbers to reveal the savings that can be made by not smoking.

It calculates that almost half of those who gave up at New Year can expect to save an average of £1,004 over the course of 2011, the equivalent of almost £1 billion in savings overall.

"Public awareness of the health benefits of giving up smoking is much higher now than it was in the past, but it seems this still isn't enough to make people kick the habit," said Reza Attar-Zadeh, director of savings and investments at Santander.

"Hopefully, by understanding the financial benefits more people will be spurred on to quit.

"Our research suggests that successful quitters expect to save over £1,000 a year, which could be a nest egg for their future."

If you're an ex-smoker with a few extra pounds burning a hole in your pocket, why not put the extra cash at your disposal to good use.

Our savings best buy charts cover a range of savings accounts to suit all needs.

If you haven't already used this year's ISA allowance, a cash ISA could be the sensible option.

Santander, Nationwide, Halifax, Barclays, NatWest and Northern Rock are just some of the household names that have some cracking cash ISA deals available.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.