This post contains affiliate links. Click here to read my affiliate policy.
Last Updated on March 29, 2019
People go to great lengths to keep their addiction going. They are often oblivious to the effects of addiction. Addiction will not only ruin your health, but it can also ruin your finances. There are several ways that addiction can affect you financially.
The Cost of Keeping an Addiction Going
It is expensive to keep an addiction going. Alcoholics who drink two six-packs of beer can spend over $400 per year on alcohol. A cigarette addict can spend over 2,000 per year on their addiction. Meth addiction can cost a person over $4,000 per year. Additionally, a heroin or cocaine addiction can cost over $10,000 per year.
Because addiction can cost thousands of dollars to maintain, it doesn’t take long for a person to ruin themselves financially. That is why it’s important for people to get professional help as soon as possible. If the individual has health insurance, chances are treatment is covered by their policy. With this in mind, addicts can save thousands by checking into a center for sober living in Santa Barbara or another region known for its high-quality detox clinics. Don’t wait until it’s too late.
Loss of Productivity
Addiction can make you less productive in the workplace as well as in your personal life. People who have an addiction often find themselves calling into work sick. When they are able to show up to work, the work that they do is often subpar. If your work performance is poor, then you will not be able to move up in your career. You will miss out on the promotions and bonuses.
Your employer may also decide to cut your hours. Employers have to think about the current and future state of their company. That is why you may end up getting fired if you have an addiction. Furthermore, if your company decides to do a random drug test, then you may end up getting fired.
Keep in mind that if you lose your job, then you will likely lose all of the benefits that you were entitled to. This includes things such as retirement and healthcare benefits.
People who have an addiction often find themselves getting into trouble with the law. There are several ways that you can rack up legal fees. For example, you may be charged with a DUI. If you get charged with a DUI, then you will have to pay a fine. You may also have to appear in court and pay an attorney to defend you. Additionally, if you are sent to jail, then you will have to post bail to get out.
It is also important to note that if you are charged with a DUI, then your car insurance premium will increase. In fact, you can expect your premium to increase by 300 percent.
Health Care Costs
Any type of addiction that you have can ruin your health. That is why you may find yourself visiting the hospital or doctor’s office frequently. People who have an addiction spend twice as much money on their healthcare as non-addicts.
Addiction can ruin you financially. You will have to pay to keep the addiction. You may also lose money due to a decrease in productivity. Additionally, you will have to pay health care and legal fees. The good news is that addiction treatment can prevent addiction from ruining your health, finances or life.