Stop Smoking and Save £4,474 a Year

Atlantic Financial Management highlights financial benefits of cutting out the cigarettes.

Today (Wednesday March 10th) is National No Smoking Day. And whilst the health risks are plain to see, leading debt solutions expert, Atlantic Financial Management, is highlighting the damage smoking does to family finances.

With the average cost of a packet of 20 cigarettes now standing at £6.13 - which could increase if Chancellor Darling raises duty in the soon to be announced Budget - those with a 40-a-day habit could be literally burning nearly £4,500 every year. And if a family is already in severe financial difficulties, this sort of expenditure could well be frowned upon by creditors chasing for outstanding payments.

"Smokers seeking help with their finances often find that creditors can be surprisingly unsympathetic..."

According to debt solutions expert, Atlantic Financial Management, whilst some smokers still won't be swayed by fatter wallets and greater savings, those nicotine-craving individuals who are also in debt may see things differently.

"Smokers seeking help with their finances often find that creditors can be surprisingly unsympathetic when it comes to allowing expenditure on luxury items such as alcohol and tobacco" explained Kevin Still, Director, Atlantic Financial Management. "And this could mean that if they are serious about sorting out their financial woes, cigarettes may need to be the first thing to go.

"As a Debt Management Company we will be adjusting our allowances for new and existing clients when the new tax year starts. There is no doubt that creditors scrutinise higher levels of expenditure on non-essential items and alcohol & tobacco definitely fit in this category. Someone giving up smoking could certainly accelerate the rate they become debt free on a Debt Management Plan (DMP)."

Atlantic Financial Management offers a range of debt solutions including Debt Management Plans, IVAs, Protected Trust Deeds and Bankruptcy advice and its expert legal support team prioritises dealing with any court actions an individual may be facing. It also offers a number of money saving tools including energy switching and a prepaid current account.

"Someone giving up smoking could certainly accelerate the rate they become debt free..."

One of Atlantic's trained and understanding Debt Advisors will confidentially discuss an individual's financial circumstances over the phone and provide initial debt advice without obligation. Once they know more about the current financial situation, the best debt solution for their circumstances will be recommended.

If a Debt Management Plan is chosen, Atlantic will then complete a statement-of-affairs, from which it can work out which payments are prioritised and which can be negotiated. Priority debts, such as mortgage, secured loans, rent, council tax and utility bills must be paid first and Atlantic makes allowances for these in the client's monthly budget and statement of affairs.

Atlantic's business model is based upon very early contact with your creditors to advise them of their appointment and to commence the debt repayment negotiation process at the earliest point possible. Atlantic is licensed to use the Common Financial Statement, which is widely accepted by creditors and their collecting agents.

To find out more about Atlantic Financial Management contact us or call 0845 0 30 30 30