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Boozeonomics: How Much Does Alcohol Really Cost You?

posted by Chris Valentine

Do you really have any clue about how much money alcohol has cost you?

Alcohol is one of the most integral elements of cultures around the world. Every region has its signature drink, its own toast, and alcohol-infused festivals.

Drinking culture may be quite rewarding, but alcohol can be very expensive. Most of us don’t know just how much we shell out for our booze.

Cash Expenses

First up, there’s the cost in cash upfront. Booze ain’t cheap. Alcohol has more taxes than most products out there. It’s still not enough to cover social costs, though, according to experts.

Estimates indicate that alcohol can cost frequent drinkers several thousand dollars a year. Few drinkers think twice about the cost, beyond whether or not they can cover the charge.

If you do most of your drinking at clubs or restaurants, chances are your costs are much higher. In these venues, you could easily spend thousands of dollars in booze a year being a casual drinker.

Insurance Costs

Another huge cost booze has in your monthly budget is in insurance. There are a few ways alcohol will drive up your insurance costs.

First off, if you make the regrettable decision of driving drunk, you’ll eventually catch a DUI. Your car insurance costs will be severely affected by this charge.

Then there’s the general tendency of drinkers to hurt themselves in general. It may be you, it may be your drinking buddies slipping in your tub. Drinking accidents happen, and they have a toll on your premiums.

Lifestyle Consequences

The cost of booze also seeps into other areas of your life, with some expensive consequences. Alcohol’s impact on your impulse control can lead to pricey online shopping sprees. Destruction of property (sometimes accidental) is another common occurrence.

Regular intake of certain amounts of alcohol can reduce cognitive functioning. Add a marked increase of absenteeism to the mix, and you have a combination for lost wages.

On the other hand, alcohol has a considerable impact on your lifetime medical expenses. Regular drinkers have an increased risk of experiencing many health issues.

Insurance Costs

Another huge cost booze has in your monthly budget is in insurance. There are a few ways alcohol will drive up your insurance costs.

First off, if you make the regrettable decision of driving drunk, you’ll eventually catch a DUI. Your car insurance costs will be severely affected by this charge.

Then there’s the general tendency of drinkers to hurt themselves in general. It may be you, it may be your drinking buddies slipping in your tub. Drinking accidents happen, and they have a toll on your premiums.

Lifestyle Consequences

The cost of booze also seeps into other areas of your life, with some expensive consequences. Alcohol’s impact on your impulse control can lead to pricey online shopping sprees. Destruction of property (sometimes accidental) is another common occurrence.

Regular intake of certain amounts of alcohol can reduce cognitive functioning. Add a marked increase of absenteeism to the mix, and you have a combination for lost wages.

On the other hand, alcohol has a considerable impact on your lifetime medical expenses. Regular drinkers have an increased risk of experiencing many health issues.

Conclusion

Man has partaken in fermented spirits longer than we’ve known how to write. It’s a part of the human life experience that isn’t going anywhere any time soon.

That’s why everyone needs to be aware of the impact that drinking in excess can have on your life. Moderation is key to keeping the party going without drinking the shirt off your back.

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