Financial Risks of Alcohol Abuse

How Much Money Do You Spend On Alcohol Abuse?

financial risks of alcohol abuse Financial Risks of Alcohol Abuse 1

When it comes down to alcohol abuse, there’s no denying the monetary effects of substance abuse. Whether you live in Nashua New Hampshire, Boston Massachusetts, or Vermont, every drink comes with a price. If you’re not careful, alcohol dependence can lead to a devastating downward spiral. We’re talking eviction notices, delinquent bills, excessive court fees, credit scores dropping, losing your job, and more. Often with addiction, many lose their family and custody of their children. Not to mention, alcohol problems can limit your success. Think about that thing you can afford to lose because of your drinking. Can you afford to lose everything you worked so hard for? Is alcohol addiction worth your life? Don’t take another drink until you read every word of this article. We’re certain with just a little information, you will quickly realize why practicing alcohol abstinence is the best financial decision for you.

Are you ready? Let’s get started

How Expensive Is Alcohol Abuse?

According to the Center for Disease Control and Prevention, ” excessive alcohol use in the U.S. rose to almost a quarter trillion dollars in 2010″. Considering alcohol abuse has nearly doubled since then, the cost of alcohol problems has increased severely. In the same light, alcohol has also become more accessible in a wide range of states, meaning national consumers are spending more money on alcohol.

So, what does that mean for you? Ultimately, if you’re struggling with alcohol addiction you should consider how much financial power you’re losing with every drink. Even worse, you should think about how alcohol use and abuse can effect you for years to come. But don’t just take our word for it. Take a look below:

Alcohol Abuse in The House | Driving Under Influence | Health care| Credit | Find Alcohol Treatment Solutions Near me Read article as a PDF

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How Can Alcohol Abuse Destroy Your Finances At Home

Whether you rent an apartment or you own a home, alcohol abuse is one of the quickest ways to destroy your family. Now you’re probably wondering, “How”? It’s simple. Individuals suffering from alcohol addiction suffer from poor money management. As a result, the inability to manage your money properly can lead to high-level depression and stress. With this in mind, high levels of depression and stress encourage people with drinking problems to self-medicate themselves with alcohol. Due to the desire to escape the mental depression and anxiety that most alcoholics experience, binge drinking has a self-fulfilling dynamic. In other words, the more that you give in to your addiction, the more money that you lose, which causes you to consume more alcohol. People struggling with alcoholism are taking money out of their home; consequently, your family suffers the most from your actions. And we can prove it.
On a bi-weekly basis, more than 250,000 alcoholic binge drinkers spend their entire paycheck in less than 72 hours after receiving it, jeopardizing their families living situation. In the same light, limiting their families to impoverished conditions. Coupled with delinquent bills, loss of home ownership, eviction, depleting savings, and burning through your pension. Alcohol abuse destroys finances.

Aside from losing money, alcohol addiction affects your family in other ways as well:
• Domestic Abuse:
• Hostile living environment
• Neglect of important duties
• Needing time to nurse hangovers
• Job termination

Now that you understand how alcohol abuse can impact your finances at home, is it really worth falling into an excessive drinking habit? If you’re still not sure, keep reading.

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Facing Finance Trouble After Being Convicted For Driving Under The Influence of Alcohol

It’s no secret how expensive alcohol abuse and use is. It is twice as expensive when driving under the influence. Did you know that driving under the influence could be one of the most expensive mistakes you will ever make? From the moment you get caught, being convicted for a DUI can cost up to $20,000 or more, this doesn’t include the additional fees included for property damage and other people.

That’s just the beginning! Drivers in need of alcohol abuse treatment who are convicted of a felony DUI can be charged even more. Sounds crazy right? If so, there’s a lot more where all of this comes from. Check out some of the additional fees that come with being convicted of a DUI:

  • Posting bail Misdemeanor DUI:
    • Posting bail Felony DUI
    • Court fees: Alcohol DUI fees include court restitution fees
    • Lawyer fees
    • Vehicle towing
    • Car maintenance
    • Legal fees
    • Blood/Breath Test Fee
    • DUI Education programs
    • Drug and Alcohol Assessment Counseling
    • Increased Car Insurance Rates
    • Transportation fees
    • Restoring your license fees

      If you’re interested in finding out an estimate of how much a DUI in your local city or state would cost you, take a look below.

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      Can I Afford To Finance Healthcare For Alcohol Abuse Treatment?

      For people who need alcohol abuse treatment in New Hampshire and other parts of the country, medical healthcare can expensive. According to Alcohol Policy “Annual health care expenditures for alcohol-related problems amount to $22.5 billion.” What this means is that healthcare for treating alcoholic addictions can have a dramatic impact on your finances. In most cases, heavy drinkers in need of treatment for an alcohol-related condition should expect to have copays, transportation costs, and lost wages. On top of everything, individuals considering inpatient alcohol rehab may lose their job. Even worse, excessive drinking can lead to a wide range of health problems such as:
    • Anemia: limits the number of oxygen-carrying red blood cells. Causes fatigue, shortness of breath, and lightheadedness.
    • Cardiovascular Illness: heavy drinking increases the risk of heart attacks or strokes
    • Dementia: large amounts of alcohol can cause memory loss, and debilitate deficits in the ability to perform daily activities.
    • Cirrhosis: excessive amounts of alcohol prevent the liver from being able to function correctly.
    • Cancer: habitual drinking increases the risks of many different types of cancer.
    • Seizures: extreme alcohol consumption can cause epilepsy.
    • High-Blood pressure: drinking can disrupt the sympathetic nervous system, which, controls the constriction and dilation of blood vessels in response to stress, temperature, and exertion.

      Provided that each of these health care problems requires urgent medical attention, people struggling with an alcohol addiction should strongly consider the risks they are taking before choosing substance abuse as an outlet. If you need help finding the best alcohol treatment center for you, contact us today

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      How Does Alcohol Abuse Impact My Credit Score?

      If you think alcohol abuse can’t affect your credit score, guess again. One of the biggest symptoms of alcoholism is neglecting responsibility. As mentioned before, alcohol is an escape drug. With this in mind, individuals in need of alcohol rehab treatment may choose to spend their bill money on alcohol. Therefore, if you have college loans, one missed payment can set you back 100 points or more. Granted you only missed one payment, you might miss a payment on 20 different loans at once. As a result, your credit score will instantly drop. Even worse, this mistake will haunt you for years to come in your credit report. Consequently, you will have a hard time financing a new car, buying a house, or taking out business loans.In addition to all of that, individuals struggling with alcohol abuse have a tendency to put their drug addiction before their finances. With this in mind, heavy drinkers have a habit of spending more money than they actually have. Due to the circumstances of their habit, substance abusers tend to go over their credit limit. Eventually, this causes alcoholics to go over 50% of their credit utilization. Henceforth, causes their credit score to drop.

      Here’s What Your Local Wine And Spirit Store Doesn’t Want You To Know About  Alcohol Consumption

      Believe it or not, the wine and spirit industry is a booming market segment, and it’s all being fueled from your hard earned dollars. According to Statista, in 2017 “$71.69 billion U.S dollars” we’re spent on alcoholic beverages. With this in mind, American’s are being set back drastically, due to alcohol abuse.

      That’s just the beginning! In the grand scheme of things, the price of alcohol is extremely low. On average you can expect to spend no more than $20 or $30. Considering most drinkers have a habit of consuming more alcohol on the weekend, you can expect to spend $120 a month.

      Now, let’s take things even further. At the end of the year, your total drinking expenditure can add up to $1,440.00 a year. And that doesn’t even include taxes. If that’s not enough to catch your attention, 10-years from now, your total drinking expenditures will amount to $14,440.00.

      Sounds crazy, right? Can you imagine what you could do with $14,440.00? You could finally afford everything you ever wanted, and more. So, why limit yourself if you don’t have to. Make the most out of your money, and start investing smarter today.

      10 Key Things To Limit  Substance Abuse Alcohol Consumption

      Who said the fun had to stop just because you’re cutting back on drinking? As we all know, there’s no greater power than gaining power over yourself; happiness starts from within. It’s time to take ownership of your life and cut back on your alcohol dependence.  It’s time to dominate your goals and start surrounding yourself with people who want to see you win. If you’re serious about saving some serious money, try these 10 tactics:
    • Explore more fun things to do while sober in your local area
    • Set a healthy living budget for you and your family
    • Establish weekly goals
    • Practice accountability with your spouse
    • Find productive methods to overcome obstacles in your path
    • Keep your mind focused on aspiring goals
    • Build Positive relationships in your life to help you succeed
    • Consider what you have to risk
    • Start investing in things that add value to your life
    • Alcohol Abstinence

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      Finding the Perfect Finance Solution For Your Alcohol ConsumptionAt the end of the day, alcohol abstinence is an excellent solution. However, alcohol withdrawal can have a wide range of side effects; from anxiety to headaches, to seizures, and more. With this in mind, our local alcohol treatment center recommends moderation. While we understand that everyone isn’t ready to change their life completely, we think it’s important that everyone finds a safe balance.

      Nevertheless, if you or a loved one is struggling with alcohol addiction, we offer excellent outpatient and inpatient alcohol rehabilitation treatment facilities here at GateHouse Treatment. Contact us today at
GateHouse Treatment Editorial Staff
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