Drug abuse can not only destroy addicts physically and mentally, it can also damage them financially. According to a report in Sports Illustrated, a New York drug dealer admitted to selling $16,000 worth of cocaine to NBA player Lamar Odom in February. Odom has reportedly checked himself in for rehabilitation. But most addicts don’t have the income of a professional athlete to supplement such a lifestyle. While it’s impossible to put an exact amount on the costs of substance abuse, the price of addiction is expensive. Christian Detox Helpline Western Springs, IL wants everyone to know about the financial ramifications of substance abuse.
The primary loss of income comes from the actual money spent on drugs and alcohol. For example, someone who purchases a six-pack of beer, three times a week, will conservatively spend nearly $53 a month. Over the course of a year, that person will spend $634 just on beer for the entire year. Keep in mind most alcoholics will spend far more than this conservative figure. The cost for illicit drugs is even worse. A person who spends $2.89 per day on marijuana will end up spending $972 a year. Cocaine purchased at $26.57 per day will cost nearly $9,000 for the year. Comparative amounts of heroin will cost more than $10,000 annually.
But the steep price of addiction doesn’t end with the purchase of drugs and alcohol. Once someone becomes an addict, it will greatly reduce their productivity. Addicts are more prone to absenteeism from work and are unable to hold a job for a significant amount of time.
An addict’s lifestyle will often center on looking for drugs, using them and recuperation. This cycle is often repeated and forces the addict to avoid more productive activities such as looking for new employment opportunities or taking care of themselves physically and spending time with their families.
The heavy use of drugs and alcohol will also produce increased medical problems. Addicts will often have higher medical bills and are at greater risk for injury. The combination of illness, disability and medical costs can cause a huge dent income.
Alcoholics and drug addicts will be forced to pay higher premiums for car and health insurance because of their substance abuse. For example, the average alcoholic will be charged with 1.4 DUI’s. This will result in a 300 percent hike in their auto insurance or a possible cancellation. As DUIs and arrests begin to pile up, the addict will also have to devote more money for legal bills.
Younger substance abusers are at greater risk of dropping out of school, limiting their education opportunities. This will impair their ability to find a good paying job. The average income for a person without a high school diploma is $19,000. Conversely, the average income for a person with a bachelor’s degree is $51,000.
Addicts tend to have additional money problems. They can result from late bills, increased interest rates and a poor credit rating. When all the expenses add up, it’s a recipe for financial ruin. The sooner an addict enrolls into treatment, the greater the chances they can also recover from a financial catastrophe. Many addicts believe they can’t afford treatment due to their money status. But the truth is the cost for proper rehabilitation more than makes up for the money lost annually from substance abuse.