# Give up for lent and take up the savings habit

Article date: 19 February 2007

Figures from Norwich Union suggest that giving up for lent couldhave a positive effect on your pocket.

For example giving up 20 cigarettes a day at £5 a pack over 40days and 40 nights, would mean being £200 better off by EasterSunday. Over the year, this could amount to around £1825 - forcouples choosing to give up together; the benefits could be evenmore.1

Giving up habits such as smoking could even lead to morebenefits to your wealth and not just your health. A 40 year oldmale non-smoker applying for life insurance with Norwich Unioncould expect to pay around £12.00, compared to £23.20 for asmoker.5 Add this extra premium to the amount you couldsave by giving up and you’d be looking at around £2000 ayear.6

Other savings you could make during lent include:

• Giving up two bottles of wine a week at £7 a bottle would savearound £84.2
• A cup of coffee a day at around £1.80 would save around£72.3
• A bar of chocolate a day at around 40p would save around£16.4

Simon Quick, a director at Norwich Union, said:“It’s astounding how much you can save by giving up alittle something over lent. In our example of cigarettes, you cansave nearly £200 as well as the obvious health benefits.

“Working out where to save your money is sometimes as hardas giving up. That’s why our website, www.makesenseofit.com is fullof handy hints, tips and simple tools which will help you to planyour finances."

-ends-

Notes to editors

1 Example cost of 20 cigarettes - £5.00, assumedaverage smoker consumes 20 cigarettes a day over 40 days of lent =£5.00 x 40 = £200. Over 365 days, £5.00 x 365 = £1825.

2 Example cost of a 75cl bottle of white wine -£7.00. UK Government recommendation of 2-3 units a day = 21 unitsmaximum a week. A 75cl 12% bottle of white wine provides 9 units– 2 bottles = 18 units a week. Lent lasts just under 6 weeks,therefore (7 x 2) x 6 = £84.

3 Example cost of coffee - £1.80, 40 days in lent;1.80 x 40 = £72.00

4 Example cost of chocolate bar – 40p, 40 daysin lent; 0.40 x 40 = £16.00

5 Example rates

Norwich Union Term Assurance (without critical illness)

Male, non-smoker, 40 next birthday, 20 year term, £100,000 cover– Premium £12.00

Male, smoker, 40 next birthday, 20 year term, £100,000 cover– Premium £23.20

6 Difference between smoker and non-smoker premium -£11.20, over a year £11.20 x 12 = £134.40. Add this cost to theyearly cost of giving up 20 cigarettes a day in note 1 - £134.40 +£1825 = £1959.40