Life / Money

Ditch the drinks and smokes — your wallet will thank you: Scorgie

For its sixth challenge, Metro's Small Changes, Big Win series gets you to save by giving up your vice.

Quitting smoking can come with numerous benefits — including saving money.

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Quitting smoking can come with numerous benefits — including saving money.

Small changes to the way you spend can add up. Metro financial guru Lesley-Anne Scorgie pulls together weekly tips that will add a minimum of $10 to your savings. Ready to watch your money grow? Check out this week’s tip.

Week 6: Quit smoking and drinking for one week

How It Works: Welcome to 2018. We know you’re busy setting goals to improve your wallet, waistline and overall wellness. According to Statistics Canada, Canadians spend approximately $25 per week on cigarettes and alcohol. Both are undeniably bad for our health — but have you ever wondered just how bad they are for your finances? If you invested that money instead, it would add to $500,000 in your adult lifetime (compounded at five per cent). Gulp. Just imagine what you could do with $500,000. Quitting smoking and drinking for one whole week will save you approximately $25.

Take Action: This week we want you to quit smoking and drinking for one whole week. Then eTransfer $25 into your savings account. If you love how you feel, you might consider quitting for good and investing the money instead.

Your Vice: Don’t smoke or drink? Find another vice that you can slash in half.

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