Most men know they could save money by eating better and cutting out alcohol and cigarettes, but a new study gives a clearer picture of just how much they could save by dropping the habits.
Men could pocket between $275,000 and $1.1 million over several decades by kicking the habits, according to research released by the non-profit Canadian Men's Health Foundation on Monday.
The study coincides with the start of Men's Health Week, which runs June 13 to 19. This year, Health Min. Jane Philpot is encouraging men to make one small lifestyle change that can contribute to their "overall health and quality of life."
The CMHF estimated the out-of-pocket costs of cigarettes and alcohol, and the life-insurance premiums charged when a man drinks, smokes or is overweight. The foundation also looked at how much the men could make by investing the money they currently spend on unhealthy habits and premiums.
A 6-foot, 258-pound man who smokes five cigarettes and has one drink per day could save $275,000 over his lifetime, the study said.
If that man took the $275,000 he saved and invested it between the ages of 30 and 75, he could earn $1.7 million.
"This is eye-opening news for guys, who might not consider the true costs of their bad habits," CMHF president Wayne Hartrick said in a news release.
"The good news is that by making small lifestyle changes, your body and wallet will thank you."
In another hypothetical situation, the CMHF said a 295-pound man who smokes 20 cigarettes and consumes three drinks per day could save $628,000 over his lifetime by making healthier choices. That money, invested for 45 years, could total $3.2 million.
A man who weighs 332 pounds, smokes two packs of cigarettes a day and drinks five alcoholic beverages could save $1.1 million. Invested, that total climbs to $8.6 million.
In addition to the savings for individuals, healthier living translates to savings on a national level. The CMHF said the health consequences of smoking, drinking and obesity in middle aged men cost the Canadian economy $20.3 billion per year. The money goes toward treatment costs, disability and premature mortality.
The average life expectancy of a Canadian man is 79, but smoking cigarettes takes an average of 10 years off a man's life, the CMHF said.
Drinking subtracts 7.9 years on average, and obesity costs 5.8 years.
While the CMHF encouraged men to change their lifestyles, the province announced $2 million in funding to help motivate men to make those changes.
The funding will go to the Vancouver General Hospital and the University of British Columbia Hospital Foundation to expand their roles in the CMHF's "Don’t Change Much" campaign. The hospitals will also participate in the "You Check" men's health awareness program.
Don't Change Much is a website that features healthy recipes, fitness tips and advice from Canadian athletes. You Check is an 18-question survey online that men can fill out to get a snapshot of their health.
The money will be used to encourage an additional 20,000 men to make changes in their lives in the next two years, the provincial government said in a statement.
"We can prevent up to 70 per cent of men's chronic health problems without adding another dollar, doctor or hospital to the health care system through health initiatives directed at men," CMHF chair Larry Goldenberg said.
