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Smokers could save up to £2,900 in 2013, claims MAS

The Money Advice Service (MAS) is encouraging smokers to try its free, online cutback calculator to reveal how much cash they could save if they cut back or quit smoking; extra cash that could be accruing interest in a savings account or ISA.

The current cost of smoking means that a 20-a-day habit costs more than £2,000, so smokers’ savings pots are seriously suffering as a result. By the organisation’s calculations, a 20-a-day smoker of ‘premium’ cigarette brands (average £8 per pack) could save more £2,900, while the same smoker buying ‘value’ cigarettes (average £6.30 per pack) could save around £2,300.

Karen Broughton, director of service delivery at the Money Advice Service, said: “Cigarettes can really burn a hole in your household budget, but smokers who cut back or quit completely in 2013 will see real difference in their pocket straightaway.

“Let us help you get your money into shape in 2013. Try our cutback calculator now to see how much cash you could save by quitting smoking, or making other changes to your spending in 2013 - you’ll be amazed how much daily costs add up over time.”

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