An American survey recently highlighted the potentially savings created by vaping. Compared to cigarette smokers, those surveyed saved an average of $1,500 per year, which is not a negligible sum, especially for young people.
The American marketplace LendEDU, which is specialized in refinancing student loans, offers online courses and other information for how students can save money. In this survey of one thousand people, the amount of money e-cigarette users saved is particularly noteworthy.
71% believed that switching from traditional cigarettes to e-cigarettes saved them money. What’s more, 9% of the participants began using e-cigarettes 100% of the time once they switched. Amongst those surveyed, the average user saved $1416 per year.
Savings: yet another plus for e-cigarettes
The survey has also helped researchers better understand the habits and expenses of American students who use e-cigarettes. Amongst the study’s participants, the amount of money spent on the device itself was $80, in addition to $60/month for coils and e-liquids. In contrast, cigarette smokers spend between $6 and $14 on a single pack of cigarettes, a difference that can be attributed to varying state taxes.
The amount of money saved by switching to e-cigarettes becomes clear after one year. In addition to it being less harmful to health, e-cigarettes limit expenses, which is good news for students living on a tight budget.
In the last few years, the e-cigarette market has seen unprecedented growth amongst young people. The e-cigarette industry’s total annual revenue was estimated at $2.35 billion in the USA in 2016.