HOBOKEN, N.J.–It’s April 20, better known as 4/20 or the official marijuana holiday, with one theory positing the date was selected because 420 is code among police officers for “marijuana smoking in progress” and another suggesting it stems from a group of high schoolers who used to meet at 4:20 to smoke pot.
Whatever the backstory, in conjunction with 4/20, LendEDU surveyed 1,001 adult Americans who say they intend on consuming marijuana today and found some things that may be of interest to credit unions. The results are being released at the same time many credit unions are either serving, attempting to serve or considering serving the cannabis industry.
Among the findings:
- The average 4/20 marijuana consumer plans to spend a total of $146.12 celebrating the holiday, with $71.35 of that going towards actual marijuana, $40.34 going towards "munchies," and $34.43 going towards new paraphernalia
- 35.66% of respondents are planning to take off work today to celebrate, while 41.86% are still going to work, and 22.48% were unemployed
- Of those still going to work, 20.05% said they were going in to the office under the influence of marijuana, while 10.26% are unsure if they will do the same
- 55.44% of respondents have accounted for 4/20 expenses in their monthly budget
- 24.18% of respondents said 4/20 is more important than New Years, while 23.68% said 4/20 is more important than Easter or Passover, and 20.98% said 4/20 is more important than July Fourth
For the full study, go here.