The Most Expensive Addictions in the US
Habit or addiction? One might mean you occasionally bite your nails. The other might mean you’re doing something in secret that’s putting your health and finances at risk. Interestingly, both habits and addictions are helped with behavior modification therapy. The more intense the problem, the greater the need for therapy.
As with any type of addiction problem, the first step is recognizing that you actually have a problem. That could begin with understanding just how much money is spent on your addiction. This type of number crunching can be shocking.
Smoking: $300 billion
In the late ‘60s, they stopped advertising cigarettes on television. The tobacco companies were also forced to put warning labels on every pack of smokes. It started to have an effect.
Here in America, many cities have adopted no-smoking ordinances that have shut down smoking in bars, restaurants and just about any other public place. The number of smokers is going down, but it still costs $170 billion each year in medical expenses related to smoking. The Center for Disease Control and Prevention also says that $156 billion can be attributed to lost productivity. In other words, all those sick people can’t work.
Eating Disorders: $107 Billion
Thirty-nine million. That’s the number of workdays lost to obesity problems. There are also billions spent on diet programs and so-called “healthy foods.” Most doctors advise you cut back on the calories and increase the exercise. You don’t need a diet for that — you just need to be sensible and dedicated to the goal of getting healthy.
Drugs & Alcohol: $276 Billion
The $276 billion associated with drug and alcohol addiction isn’t just the amount an addict would spend on their addiction. It also covers things like healthcare, premature deaths, crime, auto accidents and lost productivity. Those numbers come from the Substance Abuse and Mental Health Services Administration. Included in that number is $18 billion spent on treatment. In addition to that, factor in the staggering amount of money behind the direct advertising of alcohol and prescription drugs. In 2013, the United States alcohol industry spent over 2 billion dollars on advertising alone.
Unfortunately, only around 15% of the estimated 22 million Americans with a substance abuse problem ever seek treatment. Clearly, there is a need for more dialogue around this particular addiction issue.
Gambling: $40 Billion
Not every addiction is meant to alter your body’s physiology. Around 80% of Americans engage in some form of gambling. That can be anything from a harmless Super Bowl pool to the occasional session with nickel slot machines. Within that group is a subset of about 7.5 million Americans who develop a gambling problem. Like substance abuse, a gambling addiction can ruin lives and wipe out savings.
The Most Expensive Addictions in the US – Final Thoughts
Reading all of this would make you think that everyone is dealing with some form of addiction. To a certain degree, that might be true — but as mentioned in the opening, it all comes down to the issue of severity. Thankfully, there are an abundance of resources available to help treat all forms of addiction. That might start with some online research and slowly evolve into one-on-one contract with trained professionals. One thing is for sure, though: if you or someone you know suffers from an addiction, you’re far from alone.
Anum Yoon is a personal finance blogger and writer. She created and maintains her personal finance blog Current on Currency. You can subscribe to her blog newsletter right here for her weekly updates.
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