Money is often a topic of stress and anxiety…both of which are common smoking triggers. In our latest episode of Smoke Break, Kailah got into this topic with local CPA and all-around financial expert Raven-Symone Simon. During the interview, she shares some great tips to help you get smart on money. Here are a few of the highlights:
Understand the basics
When it comes to managing your money, knowledge is key. Learning how to pay bills, creating and sticking to a budget and investing are all important financial topics that can seem frightening to tackle. If you’re not ready to reach out to a professional like Raven for help, local organizations like the Urban League of Greater Southwestern Ohio offer free classes to help you become better informed. Like their Facebook page to find out about their upcoming classes.
When you’re starting to save, Raven says it’s key to understand your situation. One simple way to do this is to create and stick to a budget. This requires knowing what money is coming in and out of your home, down to the penny. Make sure to include the more formal expenses like living costs, grocery shopping and insurance payments, but you also want to factor in the money you spend on yourself for fun! Try not to round up or down when budgeting. If your Netflix subscription costs $10.80, make sure you are entering that exact amount.
After you budget, you can now see what money you have available to start saving. Having an emergency fund is important in case unexpected expenses come along, such as car or home repairs. Saving is also valuable because it can fund vacations or other big purchases that help to bring you joy, Raven notes.
Know how smoking impacts your wallet
Like any addiction, smoking has financial implications. The average smoker can spend more than $2,000 a year on tobacco products. Buying a pack of cigarettes might seem like a minor expense at the time, but the bill adds up quickly. Keep that in mind the next time the urge to smoke hits. And remember—every cigarette not smoked is money saved!
Are you ready to remove the cost of cigarettes from your budget once and for all? To get started, sign up for the Smoke Break Challenge, join Quit Culture’s private Facebook group and download our free mobile app today! Also, visit Raven’s website for more money-saving tips.