Is Vaping Cheaper Than Smoking?

Over the years, the debate over the cost of vaping compared to smoking has gained significant traction. Smokers who are contemplating switching to vaping are often drawn to one particular aspect – the potential savings. Both habits have their financial implications, but which is ultimately cheaper?

Let's take a look into the costs of both smoking and vaping, breaking down the numbers to help you make an informed decision about which option is more economical in the long run.

Average Cost of Smoking in the UK

Smoking in the UK is an expensive habit, mostly due to the high taxation on tobacco products. The latest update on cigarette pricing in the UK shows a pack of 20 cigs will set you back around £15.85 (July 2024). Given that a typical smoker can go through between 10 and 20 cigarettes per day, this number starts to get a little out of hand throughout the month.

Let’s consider the cost for an average smoker consuming one pack per day:

• Cost per pack: £16 (average)
• Daily cost: £16
• Monthly cost: £486.66
• Yearly cost: £5840

For heavier smokers who consume more than a pack per day, the costs skyrocket, potentially exceeding £6,000 a year. This doesn’t even account for fluctuating prices due to inflation or additional taxes that may be imposed by the government.

The Costs Associated with Vaping

Vaping is typically viewed as the more affordable alternative to smoking. However, the costs of vaping can vary depending on the type of device and the frequency of use. Not to mention the price of e-liquids and accessories:

1. Initial Investment: Most beginners will need to invest in a new vape kit, luckily, there is a great choice of options for a reasonable price. The OXVA Xlim Go, for example, is just £11.99, or you can go for the Riot Connex for a simple and hassle-free option. There’s a one-time cost for the hardware, but this can last a long time with proper maintenance.

2. E-liquids: The cost of e-liquids will vary depending on the brand and size, but on average, a 10ml e-liquid bottle will cost between £3 to £5 and shortfill bottles that start from £9.99. For moderate vapers, a 10ml bottle might last around 2 to 5 days, meaning you would need around 6 to 15 bottles a month.

   • Cost of e-liquids: Approximately £15 to £50 per month.
     
     

3. Maintenance: You’ll also need to factor in maintenance costs such as replacement coils, which can range from £2 to £5 each and batteries, which may need replacing after a few months of use.

A rough estimate for moderate vapers:

• Initial cost for device: < £50 (one-time)
• Monthly cost of e-liquids: £15-50
• Yearly cost (after initial investment): £180 - £600

Comparative Breakdown: Smoking vs Vaping Over One Year

Let’s compare the yearly cost of smoking with vaping to see how much money you could save by switching.

Smoking:

• Cost per pack: £16
• Daily cost: £16
• Yearly cost: £5840

Vaping:

• Initial cost: £50
• Monthly cost: £50
• Yearly cost: £600

If you switch to vaping, you could save around £5240 per year. These savings are even greater for heavy smokers, who may spend significantly more on cigarettes.

Health-Related Costs: Vaping vs Smoking

Smoking has long-term health implications, which inevitably lead to higher healthcare costs. Smoking-related illnesses such as lung cancer, cardiovascular diseases, and respiratory issues can lead to hefty medical bills. On the other hand, while vaping is not without its risks, it is widely regarded as a less harmful alternative to smoking, and the long-term health impacts of vaping are still being studied.

Quitting smoking (or even switching to vaping) can lead to reduced health risks, and in turn, fewer healthcare-related expenses. Over time, this could translate into financial savings on medications, doctor’s visits, and potential hospital stays.

Financial Benefits of Switching to Vaping

Switching from smoking to vaping offers more than just a financial benefit in terms of daily savings. Let’s look at the broader picture:

1. Insurance Premiums: Smokers typically face higher life and health insurance premiums. Switching to vaping or quitting altogether can lead to reduced insurance costs over time, offering additional savings.

2. Long-Term Health Savings: Vaping, while not entirely risk-free, is generally believed to be a less harmful alternative to smoking. Health experts agree that reducing or eliminating smoking can lead to long-term health improvements, which in turn, reduce the likelihood of high medical expenses.

3. Savings from Reduced Taxes: Tobacco products are heavily taxed, with prices increasing each year. Vaping products are currently taxed at a lower rate, which can lead to cost savings over the long term.

Vaping vs Smoking: Environmental Impact and Cost

The environmental cost of smoking is another aspect that can indirectly impact finances. Cigarette butts are the most littered item in the world, contributing to environmental pollution. The cost of cleaning up cigarette waste is passed on to taxpayers, which adds up over time. In contrast, while vaping devices also produce waste (such as e-liquid bottles and discarded coils), the environmental impact is significantly lower than that of cigarette butts.

Over time, reducing cigarette litter can lead to a cleaner environment and potentially lower taxes, further improving the financial case for switching to vaping.

Taxes on Vaping vs Smoking in the UK

In the UK, tobacco is heavily taxed, and these taxes contribute significantly to the high cost of smoking. Vaping products, while not completely free from tax, are currently taxed at a much lower rate. As vaping continues to gain popularity, there is speculation that the government may impose higher taxes on vaping products. However, as of now, vaping remains the cheaper option in terms of taxes.

Cost Efficiency for Heavy Smokers vs Casual Smokers

The financial benefits of switching to vaping are even more pronounced for heavy smokers. A heavy smoker, defined as someone who smokes more than 20 cigarettes per day, can spend upwards of £5,000 annually. By switching to vaping, these individuals could cut their yearly costs by thousands.

For casual smokers (those who smoke fewer than 10 cigarettes per day), the cost difference is still notable. A casual smoker might spend around £2,900 per year on cigarettes, while vaping would only cost around £600 annually, meaning a savings of roughly £2,300.

Hidden Costs of Smoking That Add Up Over Time

While the daily cost of smoking may seem like the most significant expense, numerous hidden costs will add up over time:

1. Health Insurance: Smokers tend to pay higher premiums for health and life insurance policies due to the health risks associated with smoking.

2. Missed Work Days: Smokers are more likely to miss work due to smoking-related illnesses, which can result in lost wages and productivity.

3. Social Costs: Smoking is increasingly restricted in public spaces, leading to fewer opportunities to smoke and potential fines for smoking in prohibited areas.

Quality and Longevity of Vaping Products

Vape kits, especially those from reputable manufacturers (such as Vaporesso, OXVA, Aspire and Geek Vape to name a few), are built to last. A well-looked-after device can last for years, reducing the overall cost of vaping. Regular maintenance, such as replacing coils and cleaning the device, can extend its lifespan, ensuring that users get the most value out of their investment.

The Role of Price in Making the Switch to Vaping

Price plays a significant role in motivating smokers to switch to vaping. With the rising cost of cigarettes due to taxes and inflation, many smokers find themselves seeking a more affordable alternative. Vaping not only offers a cheaper option but also provides flexibility in terms of device choice and e-liquid flavours, making it a more appealing option for those looking to quit smoking.

Is Vaping Really Cheaper Than Smoking?

After reviewing the numbers, it's clear that vaping is indeed the more cost-effective option. Smokers who switch to vaping can save thousands of pounds each year. However, it’s important to note that individual costs may vary based on personal consumption habits, the type of vaping device used, and the frequency of vaping.

For most people, though, the financial advantages of switching to vaping are undeniable, especially when considering the long-term savings on health costs, taxes, and insurance.

The cost of smoking is undeniably high, with yearly expenses running into the thousands for even moderate smokers. Vaping, by comparison, offers a far more affordable option, with the potential to save users substantial amounts of money over time. With lower initial and ongoing costs, as well as the added benefits of reduced health risks and environmental impact, switching to vaping is a financially sound decision for most smokers.

Frequently Asked Questions

Is vaping always cheaper than smoking?

Yes, in most cases, vaping is significantly cheaper than smoking. However, the cost savings depend on individual usage and the type of vaping device you choose.

How much can I save by switching from smoking to vaping?

On average, smokers who switch to vaping can save around £3,000 to £4,000 per year, depending on how much they currently smoke.

Are there any hidden costs to vaping that people overlook?

While vaping is generally cheaper, there are some hidden costs such as replacement coils and batteries, but these are minimal compared to the cost of cigarettes.

How do taxes impact the cost of vaping compared to smoking?

Tobacco is heavily taxed in the UK, making smoking more expensive. Vaping products are currently taxed at a much lower rate, contributing to its cost-effectiveness.

Can the environmental benefits of vaping lead to cost savings?

Yes, reducing cigarette litter can lower public cleanup costs, which in turn may reduce taxes and benefit the economy in the long run.