Alcohol abuse is known to come with a number of health and legal costs. One factor that many people tend to overlook, however, are the financial costs of drinking alcohol. Unfortunately, many people fail to realize just how much money they spend on their drinking habits each year.
Because it can be quite simple to acquire alcohol, such as when ordering a glass of wine with dinner or having a beer while at the bar, these costs can be overlooked. In time, however, these can add, leaving many people hundreds or even thousands of dollars shorter per year.
In light of America’s growing drinking population, it has become more important – and more complicated – than ever to track consumer spending habits. Particularly when both the material and physical cost of excessive drinking rates is becoming increasingly problematic.
WHAT IS THE NORMAL ANNUAL COST OF ALCOHOL?
The amount of money spent on alcohol per year can differ based on a person’s specific drinking habits, especially when taking into account the varying costs of different drinks and brands. Some people also drink more than others, making it even harder to pin down specific figures.
One way for you to find out your own personal costs is to keep track of your spending by either writing down your alcohol purchases as you make them or by totaling everything up at the end of the month.
If you purchase alcohol along with other items, like groceries, you may want to keep track as you go, unless you want to spend time looking through receipts each month to try to tabulate your costs.
HOW MUCH DOES IT COST TO DRINK ALCOHOL?
Another way to track your alcohol spending is to consider the cost of your drink of choice. The cost of certain alcoholic beverages ranges from low to high in various cases, which can play a significant role in calculating average consumer spending.
THE COSTS OF DIFFERENT ALCOHOLIC BEVERAGES
For some people, a six-pack of beer might run around $5, but for others, a six-pack of craft beer might cost upwards of $10. Wine can also vary greatly in price, with some bottles costing under $10, and others as much as hundreds of dollars.
Likewise, liquor from a store brand can cost a few dollars, but notable brands can charge much more. The size and packaging quality of a bottle, as well as the vendor from which it is purchased can also be a factor in determining the price of liquor, or any other form of alcohol.
WHAT IS THE AVERAGE ALCOHOL SPENDING FOR AMERICANS PER YEAR?
In conjunction with the The Bureau of Labor Statistics (BLS), an economic analysis provided by the Centers for Disease Control and Prevention (CDC), Americans spent an estimated $249 billion funding dangerous drinking habits within the year of 2010.
This average spending, while having recently decreased publicly, has since climbed slightly within the private sphere. Higher consumer spending within the home environment in recent years has been primarily attributed to the spread of the COVID-19 pandemic.
These findings further report that, on average, American adults drink alcohol at rates that equate to approximately one percent of their annual gross income compared to other grocery and household purchases.
This works out to around $565 per year. Over the span of their adult lives, these people can end up spending on alcohol over tens of thousands of dollars. With this BLS data, it is also important to consider one’s specific location when it comes to alcohol spending.
HOW DO THE COSTS OF ALCOHOL VARY BY CITY?
Based on the Bureau of Labor Statistics cost-of-living data per city and county health rankings, how much Americans spent on alcohol within the last few years can vary significantly based on where in the U.S. someone is located.
A vast majority of major cities in America may have a higher-than average price when it comes to the cost of drinking. These areas may increase both the price of an alcoholic beverage as well as their provisionary services, costing far more than it would to drink in more rural cities.
Cities spending more on alcohol per year include San Diego, San Francisco, Boston, Baltimore, and many other cities located in a more metro area featuring a high cost-of-living. Overall alcohol spending is far higher than it should be, regardless of where in the U.S. you live.
HOW MUCH DOES AN ALCOHOLIC SPEND PER YEAR ON ALCOHOL?
Although the reviewed cost of how much Americans spent on alcohol annually has thus far typically totaled to around several hundred dollars on drinking per year, someone who struggles with alcohol abuse may struggle far more.
Someone with an alcohol addiction will generally depend on alcohol as a mood enhancement, or to stave off withdrawals. This means that they may need a constant supply of alcohol in order to function, leading to greatly increased costs.
As their condition worsens, addicted people spend around several thousand dollars per year on alcohol, even when drinking what would be considered inexpensive brands. Spending on alcohol varies based on the volume purchased.
When it comes to alcohol addiction, these people spend far more money funding their habits than the average American might. These additional costs can be crippling, characterized by a year over year increase in spending on little other than a continuous alcohol supply.
RECOVERING FROM THE COSTS OF ALCOHOL ADDICTION AT PATHFINDERS RECOVERY CENTER
Because alcoholism is a progressive disease, intervention may be required to end the cycle of alcohol abuse. For those struggling with alcohol or drug problems, Pathfinders Recovery Center offers a variety of recovery solutions, including 12-step programs, to assist in your treatment.
To learn more about how you can live your best life and be free from struggles with addiction, click here now. You can also call (855) 728-4363 to speak with a substance abuse treatment professional about detox and recovery solutions designed to address your unique needs.