Alcoholism And Finances

alcoholism and finances
Medically Reviewed By: Dr. Joshua Yager M.D.

Medically Reviewed By: Dr. Joshua Yager M.D.

Dr. Joshua Yager is an Atlanta native, board-certified family practice physician who is dedicated to the health and wellbeing of his community.

Table of Contents

Addiction never brings anything good to anybody, something our family and teachers have taught us since we are little kids. Yet, it’s a common issue in our society. Alcoholics will do anything to satisfy their urge to drink, even fall into debt. In this blog, you will learn more in-depth how alcohol destroys a person’s finances. Remember, it’s crucial to encourage alcoholics to receive professional help before it’s too late.

Cost Of Alcohol

According to the Bureau of Labor Statistics, the average American spends 1% of their income on alcohol, averaging a little more than $500 a year. An alcoholic could spend thousands of dollars just on alcohol. Alcoholics will try to justify their expenses on liquor but don’t fall into the trap. As soon as you notice something odd, let people know so they can help.

Let’s do a math review: let’s suppose the average alcohol consumption per night for an alcoholic is $10 for five days a week. That’s $50 a week and about $200 a month, and it could be a lot more. But that’s just the beginning; as you continue reading, you will learn financial problems of alcoholism do not end with the costs of alcohol.

If a friend or relative is suffering from alcohol abuse, encourage them to get help. There is alcoholism treatment in Georgia with proven working methods and willingness to help.

What About The Hangover?

Most alcoholics will spend on pills and food that will help them through the hangover; that’s an extra expense to consider. What about the risks of drunk driving? If the police catches a drunk driver, the person’s family must pay a fine, and that’s if they’re lucky.

According to the CDC injury center, 29 people die each day due to alcohol impairment-driving in our country, and many more result injured. An alcoholic may face debt for paying the medical bill, compensation, or even be lucky enough to spend just repairing their vehicles. Financial problems of alcoholism can keep  accumulating until reaching bankruptcy.

Also, consider that an alcoholic is most likely to underperform at their job and get fired. Without a job, there’s no income to pay for alcohol, and this is when alcoholics will sell everything they have to satisfy their urging thirst until they have nothing.

There’s Hope To Turnaround Lives At Hope Harbor Wellness 

Hope Harbor Wellness is an outpatient treatment center run for people in recovery by people in recovery. Our alcoholism treatment in Georgia has proven to be effective because our team has experienced it first hand. Let’s work together to protect the financial stability of your family, but most importantly, to save you. Contact us to start this path towards recovery with the help of people willing to give you unlimited support and compassion.



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