Most people are aware of the health effects of substance abuse. Chronic use of drugs or alcohol can cause a variety of health problems, including high blood pressure, cancer, injuries and decreased lifespan. Substance abuse has financial consequences as well. People who abuse alcohol or drugs can severely damage their family's finances, depleting retirement savings and risking the loss of personal property.
Money Spent on Substances
The money spent on drugs, alcohol or other substances can have a significant impact on a family's finances, according to the Drug Rehabs website. The average cost of three six-packs of beer per week is $13.20, or $633.60 per year, as of August 2010. The average monthly cost for illegal drugs ranges from $81 for marijuana to $836 for heroin.
Missed Income Opportunities
According to the Cliffside Malibu website, missed income opportunities as a result of substance abuse also affect family finances. Substance abuse contributes to work absenteeism, which can cause the abuser to lose opportunities for promotions and pay raises. Excessive absenteeism can lead to being fired.
Medical Costs
Drug and alcohol abuse typically results in high medical expenditures, either for illnesses related to the substance abuse or for injuries sustained while using alcohol or drugs. Even if the abuser carries medical insurance, co-pays and deductibles can take away from the family's budget, according to the Drug Rehabs website.
Insurance Costs
People who abuse drugs, alcohol or other substances might pay more for auto and health insurance, according to the Drug Rehabs website. Convictions for intoxicated driving can affect both car and medical insurance rates by more then 300 percent. In some cases, insurance companies can cancel policyholders for incidents relating to substance abuse, leaving families vulnerable to large financial liabilities.
Legal Expenses
According to the Drug Rehabs website, substance abusers frequently incur legal fees, such as fines and attorney fees, as a result of their actions while under the influence of alcohol or drugs.
