woman putting out a cigaretteQ: I stopped smoking on New Year’s Day and all is going well but now I’m keen to look at how much money  I can expect to save over the year.

A: Firstly congratulations! Not only are you giving your health a huge boost by stopping smoking, but you’re giving your finances one too.

The NHS Smokefree website has a fantastic calculator which you can use to see exactly how much smoking is costing you.

If you were a 20-a-day smoker, with the average pack of 20 cigarettes costing £7.46, you will have already saved over £250 since 1st January 2013.

If you quit for good, you will save over £2,700 by the end of this year.

And just think, if you stuck the £2,700 into a tax-free instant access cash ISA, you could save even more money.

One of the best on the market if you have an initial deposit of £1,000 or over is the ISA Saver from the Cheshire Building Society. With its 2.5% AER, that includes a 2% bonus until 31 July 2014, you could earn an extra £67.50 on a £2,700 investment.

So if you have stopped smoking or are planning to stop soon, make sure you make the most of all those huge savings you’ll make.

Andrea Ventress, money expert

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