7 Ways to Manage the Cost of a Funeral
1. Plan in advance!
Preplanning your funeral is the best way to avoid spending more than you need to. Planning ahead of time allows you to consider your options without feeling rushed. You'll also have the advantage of avoiding the risk of making impulsive, emotional purchases.
2. Set a budget.
Before you start shopping, it's always a good idea to know how much money you have. Consider funeral planning the same way you would consider planning a celebration for any major life event. When you think about it, planning a funeral is similar to planning a wedding. You wouldn't plan a wedding without knowing how much you want to spend! Allocate your funeral funds to the elements that mean the most to you.
3. Know what you want.
Even if you are making funeral arrangements for someone who has already died, it is best to decide what type of funeral you want before meeting with the funeral director. This can assist you in avoiding purchases that you do not truly want or require.
4. Shop around.
Shopping around can teach you a lot, whether you do your research online or visit local funeral homes. You'll be surprised by the wide range of options available at very reasonable prices.
5. Look hard at the most expensive items.
Big-ticket items can provide the most significant cost savings. These items (caskets, grave markers, and urns) are available at various prices. Numerous lovely options are reasonably priced. It is not necessary to purchase the most expensive model.
6. Ask for help.
It may be beneficial to shop with a trusted friend or family member. If difficult negotiations are involved, your companion can speak on your behalf. The decisions that must be made are highly personal and emotional. You may be in mourning and not in the best mental state to make major financial decisions. The person should be someone you trust and who you believe has a calming personality.
7. Consider pre-funding.
If you pay for funeral expenses in advance, a guaranteed funeral contract may allow you to lock in today's prices. However, as with any major financial purchase, you should do your homework to ensure that your chosen plan is right for you. Make sure to read the fine print!
8. Know your rights.
According to the FTC's "Funeral Rule," you must be given writing and phone prices. Knowing the basics of the Rule as a buyer can help you avoid sales traps. Contact your state Attorney General's office or the local funeral home regulatory board if you believe you are treated unfairly.