Srinagar- Cigarette smoking is no longer just a public health concern but has emerged as a serious financial burden, particularly for lower and middle-income households, financial experts have warned.

In an interview with Kashmir Observer, Financial expert Irshad Mushtaq said smoking has taken the shape of an epidemic, with its economic consequences often ignored in public discourse. He said while the health hazards of smoking are widely known, its long-term financial implications can be equally devastating.

According to Mushtaq, an average smoker spending around ₹100 a day on cigarettes ends up spending nearly ₹36,500 annually. “This amount may appear small on a daily basis, but over years it turns into a significant financial drain,” he said.

He said the situation worsens for those consuming premium cigarettes, where daily spending can reach ₹150 to ₹170. “In such cases, annual expenditure crosses ₹60,000. If this money were saved or invested instead of being burnt on cigarettes, it could grow into substantial wealth over time through compounding,” he said.

Mushtaq explained that consistent investment of such amounts over a period of 20 years could potentially grow into nearly ₹1 crore. “What people do not realise is that by smoking, they are not just damaging their health but also losing the opportunity to build financial security,” he said.

He said smoking has been socially normalised in many parts of Kashmir, making the problem more entrenched. Rising cigarette prices due to inflation further add to the financial pressure on smokers, particularly those from economically weaker sections.

The expert said money spent on cigarettes could instead be channelled into savings, income-generating activities or long-term investments. “Reducing or quitting smoking can significantly improve a person’s financial condition, reduce dependence on loans and enhance overall economic stability,” he said.

Mushtaq stressed the need to look at smoking not only as a health issue but also as a financial and social problem. He said awareness about the economic cost of smoking could help people make informed choices and adopt preventive measures.

“Smoking silently erodes both health and wealth. Addressing its financial impact is essential for improving quality of life and long-term security,” he added.