Saving for Lent

By HELEN LOVELESS, MAIL ON SUNDAY ENTERPRISE EDITOR
Updated: 19:00 EST, 22 February 2004

LENT sees many people grit their teeth and give up some of their favourite vices. But it isn't all pain and no gain - abstinence could pay off in spades.

If you smoke or drink, have a weakness for coffee, chocolate, or crisps - or even all of the above - then just 40 days of abstinence could save you hundreds of pounds.

New figures highlight the true cost of many of our daily habits. For example, the average chocolate bar now costs 45p. Going without a daily chocolate fix during Lent would save £18, not to mention inches around the waistline. Stop eating crisps and you could save yourself another £16.

As a nation of caffeine addicts, sacrificing your regular morning coffee may seem out of the question. Until, of course, you take into account the savings of £86 that could be made by giving it up for just 40 days.

The worse the vice, the more you could save. Forgoing a daily pint of lager could leave you with £91.60 more in your wallet over this period, rising to £183.20 if you usually have two pints a day.

Smokers have most to gain. With the average pack now costing £5, a 20-a-day smoker could save themselves £200 by giving up cigarettes during Lent.

Matthew Osborn, spokesperson for Lloyds TSB Savings, which carried out the research, says: 'This shows giving things up for Lent could make both you and your bank balance more healthy.

'By carrying on the good work after Lent and just making a few cutbacks people should certainly make a positive difference to their nest eggs,' he added.

In fact, take it one step further and give up all of your bad habits for the entire year and you could find yourself with well over £3,000 - enough to make the most of your entire annual Isa allowance.