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Chocolate or fags...

Giving up a vice this New Year? It's either chocolate or cigarettes, says new research but give up both and you could really make some savings. Brits could save themselves more than £50.3 billion a year if they stick to their New Year's resolutions and quit a bad habit as the clock strikes midnight, a new poll reveals.

Smokers could pay off their mortgages over eight years early by giving up the habit and that's not all, another three years could be lopped off the mortgage by giving up chocolate.

Research from the One account shows that smoking will be the nation's number one vice to give up in 2004, with one in five adults planning to stub out their last cigarette on New Year's Eve. Chocolate comes a close second with 17% of adults planning to beat their sweet toothed addiction.

The 'One thing I'm Giving Up' survey also revealed:

• 12 million smokers in the UK spend in total £15.7 billion a year on cigarettes. On average each smoker spends £109 on cigarettes a month. By giving up and putting the equivalent cash into a One account, a homeowner would save £20,972 in mortgage interest and pay off their mortgage eight years and seven months early.
• The nation spends £3.9 billion on chocolate every year, with the average chocoholic spending £22.84 a month on their favourite bars. By beating their addiction and paying the cash saved into their One account, a homeowner could save £8,443 in mortgage interest and pay off their mortgage almost three years early.
• And those hoping to shed a few pounds in the New Year revealed they are planning to adopt a healthier diet. In total 13% of those surveyed admitting they'll be turning their nose up at takeaways and fast food. The average junk food addict spends £50.87 a month on fast food. Choosing the healthier option and paying the extra cash into their current account mortgage could save each homeowner more than £13,553 in mortgage interest and pay off their mortgage five years early.
• Shopaholics admit to spending £228 on unnecessary luxuries every month. By only splashing out on the necessities and paying the saved cash into their One account could save each homeowner almost £29,714 in mortgage interest and pay off their mortgage almost 13 years early.

The One account's communications manager James Duffell said: "Quitting a vice, even if it's a few pounds a week, could save thousands of pounds and mean homeowners paying off their mortgage years early if they put the money they'd saved against it.”

"It does take perseverance to give up a bad habit but totting up the cash savings, coupled with the thought of paying your mortgage off early, should provide ample incentive to go for it.”

"The cash accumulated by quitting a vice soon adds up over the year into a nice lump sum that can be put aside for a special treat like a holiday or paid straight into your mortgage.”

The research - which gathered the views of 2,000 adults across Britain - also revealed:

• In total, 8% of adults plan to beat the bulge by giving up their daily packet of crisps for the New Year.
• People in Wales are most likely to quit smoking - 26% named cigarettes as their top vice to give up for the New Year.
• East Anglia is home to the most chocoholics with a almost a quarter of those surveyed admitting giving up chocolate is their top New Year's resolution.
• Nation-wide, women are more than twice as likely as men to give up chocolate - 23% of women and only 11% of men named chocolate as their favourite vice to give up for the New Year.
• The tables turned when it came to gambling with 4% of men hoping to quit the vice for the New Year compared with only 1% of women.
• People pledging to become teetotal in the New Year total 4% and 5% said they would curb their spending habits when it came to shopping.