Lent sacrifices could make you £75k

5 March 2014
Giving up bad habits for Lent could make you £75,000 richer over the course of your working life, according to new research.
Giving up cigarettes, alcohol, and treats such as chocolate and take-away coffee over Lent can add up to savings of £376 per person, according to insurance company AXA. 
Putting out a cigarette habit would account for the lion's share of the saving, at £220 on average. While giving up booze saves £78, shop-bought fresh coffee £56 and chocolate bars £20.
Save the total every year over the course of your working life and you could end up with £18,000 in the bank. 
However, invest the savings in a stocks and shares Isa every year and AXA research has found that upon retirement, you could have an extra saving of £74,612.25 - a cash boost of more than £56,000. 
Andy Zanelli, head of retirement planning at AXA, said: "Small sacrifices, even during the relatively brief 46-day period of Lent, can mean major savings – and these savings can be maximised if invested in appropriate ways, such as through an Isa rather than simply storing savings in a current account, especially at a time of low interest rates."

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