A funeral can be very expensive--the average funeral cost is about $10,000. Funeral expenses are high for many reasons.
Funerals are typically planned very quickly, leaving little time for financial planning. In addition, those involved are in mourning and don’t want to be bothered by shopping around, nor are they sure what questions should be asked. It may even feel like you're dishonoring your loved one if you try to save some money. However, with a little planning, you can put together a funeral that is affordable, but that is also worthy of your loved one.
- Price Different Funeral Homes
It’s easy to make arrangements with the first funeral home you contact. However, prices between different companies can widely vary. You would be surprised how much can be saved just by shopping around and keeping your options open. By failing to explore all options, you may end up paying up to3x as much as you need. Call around and get estimates from at least three, then choose the one that has the lowest price. - Explore Life Insurance
Many people take out life insurance policies to pay their debts and take care of their family after they are gone. However, the proceeds from the policy can also be used to pay for funeral arrangements. If the deceased had a life insurance policy or burial insurance, this can help offset the cost. Payouts range from $3,000 to $15,000. - Cut Costs in Other Ways
There are certain things normally associated with funerals that are not necessary or can be purchased for less money. For example, the casket is one of the most expensive items you can purchase, and the funeral director is likely to show you the higher priced caskets. But you don’t have to make the purchase from the funeral home. It’s often cheaper to order from a third party, and reasonable prices can be found on the Internet.
Extras like limousines, embalming, and elaborate headstones can be eliminated or replaced with lower-cost options. Depending on the wishes of the deceased, opting for cremation can reduce costs by about $2,000. If you choose cremation, avoid expensive urns or cremation jewelry that will negate the savings. You can also avoid the traditional funeral home service and have a simple memorial service at your home or church and instead of catering a full meal, serve snacks and hors d’oeuvres to your guests. - Focus On the Small Touches
It's not how much you spend that makes a funeral special, it's the memories and personal touches you share. Did the deceased have a special love for painting? You may opt to display some of their prized works in lieu of large, floral arrangements. If they had always loved a certain band, consider playing their favorite album instead of hiring a pianist. Far from cheapening the experience, you will be honoring them by remembering who they really were.
Those in the funeral industry need to make a living just like everyone else; however, it’s not uncommon for them to take advantage of people who are in mourning and are vulnerable. When you’re planning a funeral, it’s easy to be talked into purchasing extravagant items that look good, but are unnecessary. Arm yourself in advance with the information you need so you can plan an affordable funeral that honors both the deceased and those who are still living.
