Unfortunately, a funeral is not something we can prepare for. Of course, life insurance alleviates the problems with paying for funeral services, but the emotional component prevents us from reasoning. Often funeral companies and cemeteries take advantage of this to get more money without paying attention to our grief.
The average cost of a funeral ranges from $7,000 to $12,000. This amount includes viewing, burial, service fee, transport, coffin, embalming, and some other expenses. Funerals with cremation usually cost a little less, averaging between $6,000 and $7,000. However, this amount does not include the cemetery, monument, and things like flowers.
Nevertheless, there are several ways to save money.
- Contact several funeral homes in your area for pricing information. It is possible that the prices will not be the same and you can find a more economical option.
- Caskets, liners, and some other funeral supplies can be purchased outside the funeral home. This can save thousands of dollars without sacrificing any agreements.
- According to The Federal Trade Commission, no states require regular embalming of every death. Still, there are rules regarding the preservation of the remains before the funeral or cremation, which is more about the period between death and funeral to prevent the destruction of the body. So the embalming process is another thing to save money on. If direct burial or cremation is chosen, embalming can be omitted altogether.
- There is no need to use funeral home visits and memorial services. The only exceptions are those cases when it is important for the deceased's family.
- Memorials can be held at home or anywhere else. In this case, they will cost an order of magnitude cheaper.
Unfortunately, misfortunes do not warn before their arrival. And sometimes, our savings accounts just can't cover the expenses that await us. In such a case, a simple option is a personal loan. It is usually possible to borrow between $1,000 and $50,000 to cover funeral expenses.