July 1st 2007 saw the ban on smoking in public places come into force, and by several accounts, the results have been pretty impressive, with an estimated 400,000 people giving up smoking since then.
And as far as the personal finances of those who have given up go, then should they have now been a non-smoker for a year, MoneyFacts estimates that they could have saved around £250 per month since the ban, which could be worth over £3,100 if saved in a typical savings account.
And remember, it’s not just the savings on the fags themselves that will add up – if you’ve currently got life insurance as a smoker, and have not touched tobacco products for 12 months or more, you’ll now be classed as a non-smoker. It’s definitely worth getting a new quote on this basis, as premiums can be as much as 50% lower for non-smokers (although this could possibly be offset by the fact that you’re older than when you originally took out your policy, but getting a quote costs nothing).
