Smokers spend enough on cigarettes over their adult lifetime to buy four brand new family cars, two round-the-world cruises or put down two house deposits, according to research.
Alternatively, they could afford 15 luxury Rolex Submariner watches or Hermes Birkin handbags, with cash left over.
The study of 2,000 adults who use nicotine – including cigarette smokers – found 67 per cent admit they know they are throwing money down the pan, but three quarters have tried and failed to quit.
Of those who want to quit, 74 per cent named money as their main motivation, just ahead of improving their health (72 per cent).
Cigarettes are the main source of nicotine, with the average smoker spending £1,950 on cigarettes a year, adding up to a staggering £120,900 over an adult lifetime.
The current price of an average wedding in the UK is £18,400, which could be saved up for in around six years by quitting smoking.
Potential savings smokers could make after quitting
Christian Woolfenden, managing director of Philip Morris Limited, which commissioned the study for Unsmoke UK and created an online calculator that shows the potential saving smokers could make said: “It’s surprising to see these figures laid out in front of you in this way.
“Most people would be delighted with a cash boost of more than £100,000 – but seeing it slip away bit by bit on cigarettes is avoidable by quitting.
“There are still over 6 million smokers in the UK but there are lots of resources to help.”
As part of the research, users of vapes, nicotine pouches, and heated tobacco were also polled, and it emerged those who use disposable vapes spend an average of £1,008 a year on the product – significantly less than the £1,950 smokers spend on cigarettes.
And during the average adult lifetime this would equate to a total of