E-cigarettes

It’s strange to hear marketing promoting the use of e-cigarettes. Legislation has restricted  campaigns promoting tobacco products for many years.  A frequently-used e-cig marketing approach targets smokers who feel their habit has forced them into self-imposed  isolation to hide their habit or protect others from second hand exposure.  Web sites declare the product is for individuals who already smoke, offering them a safer alternative.

Nicotine is an addictive substance and e-cigarette ads or commercials clearly state its presence. E-cigarette use often leads to use of tobacco products. Among individuals who smoke, nine out of ten started as teens.

A 2016 report by the Surgeon Generals Office pointed to data indicating a rapid increase in the use of e-cigarettes (also known as “vaping”) by teens and young adults.  In research designed to measure whether youth understand the risks, the findings clearly indicate that teens and young adults view e-cigarettes as safe. Flavor options are attractive, and natural curiosity are reasons given to try e-cigarettes.

Tobacco product use in any form, including e-cigarettes, is unsafe for adolescents. Lifelong addiction is costly, not only in health terms, but also in financial terms. E-cigarette pods, equivalent to a pack of cigarettes, cost $4-$5. The device to use the pods is around $35.  When a substance is addictive, as e-cigarettes are, users will typically increase consumption over time. This is a bonus for the companies selling the products. Even with low use (2 pods a week), the habit will cost $500 a year.

Running a calculation of what $500 a year could become if it was saved provides an argument against vaping.  A modest $50 deposited monthly into an account earning 3% a year with annual compounding (I’m being intentionally conservative here…) from the age of 16 until age 65 would result in  cash assets of $65,000.  Unfortunately it’s hard to make this example exotic enough to hook individuals on saving instead of vaping.

 

 

 

Joyce Lash

Joyce Lash

Joyce Lash is a Human Sciences Specialist in Family Finance who wants to keep you ahead of the curve on financial information.

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