Social cannabis consumers spend more than $100 per month on cannabis

The average consumer of legal social cannabis spends about $111.05 per month on cannabis, according to a new study by LendEDU.

LendEDU, a New Jersey-based online marketplace for student loans and other financial topics, considered 1,000 American consumers of legal age and measured their cannabis spending habits.

One of the questions of the pool asked participants how much they spend per month on cannabis product purchases, a number that rounded up to $111.05 per month. They also found that 50 percent of legal buyers include cannabis into their monthly budget.

The pool also determined 27.6 percent of the consumers spend more money per month on cannabis than on eating out at a restaurant.

The above numbers show that cannabis is playing a big role in the lives of consumers, and a monthly bill similar to paying cable or rent. In states where cannabis is legal, residents are setting aside a pre-determined amount of cash to spend on cannabis each month.

The average price of legal cannabis has also decreased, pushing consumers to purchase more product.

“The point to be made is that in states where marijuana has become recreationally legal, the consumption of the drug has become both a priority and lifestyle choice,” LendEDU research analyst Mike Brown said.