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The cost of naltrexone medication is a fraction of how much people spend on alcohol when they are chronic drinkers, and that doesn’t factor in the hidden and related costs of drinking.
What You’ll Learn:
• How much chronic drinkers spend on alcohol alone.
• Related costs that make drinking more expensive.
• The hidden costs of drinking that most people don’t consider.
• How alcohol costs people money in lost income.
• Why time that’s lost is the biggest cost of all.
A recent conversation on the Reddit thread /stopdrinking posed a question about how much people spent on alcohol that led to some interesting observations about the cost of chronic alcohol consumption. Spending $100+ a week minimum just on direct alcohol costs was a very common answer. Many Reddit responders estimate that they spent around $500 a month. However, a significant number of people calculated the cost at $800-$2,000 a month.
But that is really just the tip of the iceberg. There are a lot of related costs that go into chronic drinking. Some are small ancillary costs that can add up, while others are huge unexpected costs that can cause immediate financial harm.
If you’re wondering how much you’re really spending on alcohol, and how much an online naltrexone prescription could save you, then you have to consider all of the related costs and potential expenses.
Direct Cost of Drinking Alcohol Regularly
Many people are shocked to find out just how much they are spending on alcohol when they add up the actual costs. When you’re buying it on a regular basis, it’s easy to miss how the monthly bill is accruing.
Drinking at Home
This is the cost that most people think of first and can be the easiest to calculate. The alcohol that you buy at the store to drink at home is going to be the most economical option, but it’s still very costly. This is the cost that is referenced by Reddit users that estimate they spent approximately $100-$150 a week on alcohol.
Given that the cost of production and taxes on alcohol have increased and will likely continue to increase, buying alcohol at the store will get more expensive over time.
Drinking Outside of the Home
This is where alcohol can get very expensive, even if you’re drinking beer or timing it so that you get happy hour specials.
• Even domestic beers that are on special will cost $4-$5 per beer, but it’s not uncommon for specialty beers to cost $7-$9 each.
• It’s common for a glass of wine to cost between $6 and $10 per glass at a restaurant. Often bottles of wine are at least twice what you would pay for them at the store.
• Depending on where you live, a regularly priced mixed drink can easily be $10+, sometimes over $15 per drink.
On top of the cost per drink, you’ll also be paying tax and a tip. If you’re at a bar paying for each drink, go ahead and add $1 per drink for a tip.
Costs Related to Consuming Alcohol
The cost of the alcohol itself is just the start. There are a number of directly related costs that make drinking even more expensive.
Delivery Charges
Today, alcohol is more accessible than ever due to delivery apps that can bring alcohol to a person’s home. It prevents drunk driving, but the convenience comes at a cost. Every delivery comes with a fee as well as a tip, and often people pay a premium price for products.
Ride Shares and Cabs
Many people who binge drink or drink heavily make use of ride share services and cabs to avoid driving under the influence. While that is the right decision to make for safety reasons, it comes at an additional cost that can easily be $10+ per ride.
Parking Tickets and Fees
Another cost related to using ride shares and cabs is higher parking fees or parking tickets if you drove where you were drinking and couldn’t drive home. If you leave your vehicle someplace overnight it could end up costing you $25+ for the parking.
Hidden Costs of Drinking That Can Be Very Expensive
There are still more expenses connected to drinking alcohol that are less obvious. These hidden expenses can seem small or they could be a huge cost that happens suddenly when you don’t expect it at all.
Impulse Buys
Something that is a common occurrence when a person is drinking is impulse buys. These are purchases that aren’t planned or essential. Often they are made when a person is out drinking, but today impulse purchases can also be made at home online. It’s part of the effect that comes from alcohol reducing impulse control and decision making.
Medical Issues
Liver damage, injuries from accidents, worsened mood disorders, increased risk of diabetes - this is a short list of the medical problems that can arise from chronic drinking. The related medical issues can cost thousands in one fail swoop if you have to pay an insurance deductible, and they can add up substantially over time for long-term care and medications to manage illnesses.
Legal Trouble
Just one DUI can cost you thousands of dollars whether or not you get formally charged. There’s also a good chance you’ll need to take defensive driving and safety courses that can cost hundreds more. Then there’s the car interlock and breathalizer devices that can cost $120+ a month.
And if you injure someone while inebriated that can lead to other legal issues that are extremely expensive. You may even lose your insurance coverage, and at a minimum the premium cost will go up.
How Drinking Alcohol Hurts Income Potential
Out-of-pocket expenses are easier to calculate than the cost of lost income. Many people leave a lot of money on the table by choosing alcohol use over career advancement. And it’s a decision that can continue to have a negative impact year after year.
Lost Time and Productivity For Work
How much more could your earning potential be if you weren’t drinking on a regular basis? It’s not just about the time that you’re inebriated. Hangovers the next day also kill productivity.
Reddit user E-Stoye hit on this fact in their response that noted, “I spent $900 a month on drinks for home . . . Plus dinners out, missed work and opportunities. I’d put it at $50k a year, possibly more. I’m in sales, can’t sell if I can’t think or show up or quote five days a month.”
Less Time For Advancing a Career
Often advancing your career means putting in work outside of the regular 9-to-5 work schedule. You have to invest time, energy and attention into gaining certifications, taking training courses, picking up additional tasks at work to increase your skillset.
If the focus is on drinking as soon as you clock out, you’re much less likely to move up the career ladder.
Losing Jobs
When someone becomes dependent on alcohol and develops an alcohol use disorder it’s very difficult to hold down a job. Studies have shown that people with alcohol use disorder are more than twice as likely to be fired. This can have serious repercussions on your income potential given that being let go from a job can be a hindrance to finding another one.
Part of the reason that people with AUD are fired is because of missing work. Employees who chronically use alcohol are absent from work 4-8 times more than average.
How Much Lost Time With Loved Ones Costs
For some people the biggest cost is lost time with loved ones. It’s particularly notable for people with young children or aging parents. Your children won’t be young forever so that time can’t be made up later. And once a parent is gone, their presence is missed forever.
Time is a very limited resource and arguably the most valuable one we have. And it’s not just the time spent drinking that’s lost. It’s also the time spent acquiring alcohol as well as the recovery time the next day.
All-in-all the hours, days, weeks and even years that are missed spending time with loved ones can never be fully calculated.
With Choose Your Horizon you can get a month’s worth of naltrexone medication for less than what alcohol costs in a single week. The money you save drinking less far exceeds what you’ll spend on a prescription, and that doesn’t take into account how much you save by reducing the risk of major expenses like medical issues and DUI charges.
Start saving your time, money and health - take the online Alcohol Use Assessment to get customized recommendations that will help you drink less.
