As the years go by, more people are certainly becoming aware of the expenses that come in the afterlife. Funerals are massively expensive and that is why many people when receiving their first paychecks, start saving for their funeral expenses or avail of different funeral packages. In fact, through the years the average cost of handling a funeral continues to rise, slowly but inevitably. At the basic level, funerals, in fact, already cost thousands of dollars. You might be wondering why funerals are so expensive when they are just simple gatherings. Well, we are here to list out why funeral arrangements are so expensive and why you should also start to save for it.
Average Funeral Cost in Singapore
As of 2018, it has been reported that funeral costs are already averaging at about a whopping $7,000 to $10,000. In fact, this large amount of money just covers all the basic necessities needed in a funeral arrangement. So why is it so expensive? Listed below are the expenses that need to be covered in a funeral.
- Burial Plots – A large chunk of the budget would actually go to the cemetery plots. Despite the popularity of cremation, grave plots still do not dwindle in demand. At an average price, a burial plot can cost you about $1,000 to $2,000. In addition, you would also have to pay for a burial vault and casket, in which it will cost you a whopping $4,000 combined. There are other expenses that come with a burial plot such as a grave marker or headstone which costs up to $500.
- Taking care of the body – Funeral expenses does not only mean the things that are brought for the funeral. It will also include the expenses covered when taking care of the body. Funeral homes usually already have a package deal that you can avail of to save you some expenses. However, separately, these services will quite cost you a lighter pocket. The rates for embalming and preparing for the body will cost you about $800. These will already include hairdressing and other cosmetics that come with preparing the body for the funeral. Services such as the transportation of the body from places to places as well as professional services fee may also be charged separately at a rate of $500.
- During the Funeral – You will also have to shelter out some money when you are arranging for a funeral. Funeral ceremonies require staff and an appropriate venue which can be hired and rented at the rate of $500 combined. There are also other expenses such as funeral flowers, memorial printed packages, and newspaper obituary fee which will need to be covered that can cost you at about $500 to $800.
How to Save for a Funeral Arrangements?
Having read the expenses and costs that come in handling a funeral arrangement, you surely would want to start saving for your own. The last thing any responsible adult would want is to leave a financial strain on their family when they should be focusing on grieving and healing from a loss. So, if you are still starting to save for your own funeral arrangement here are different ways that you can do so and save your family the trouble.
- Consider other options – Because burial plots are getting more expensive, it should be in your consideration to choose other burial methods such as through cremation. In fact, it has already been proven by different studies and surveys that cremation will actually save you about at least $2,000 more than through burial.
- Cut costs -During the funeral, there are some expenses that are not actually necessary but are just present because of tradition such as condolence wreath from the florist, memorial printed packages, and funeral staff. Although tradition may say that these are important, they are not essential in funeral arrangements. That is why, if you are in a financial strain, you can always opt to lower the budget intended for this stuff. In addition, to avoid hiring a funeral staff, you can always call and ask for volunteers from friends and family that are close to the deceased or to you. While funeral flowers will show respect to the deceased, make sure that the chosen flower is totally within your budget. You do not always have to make decorations so grand because the essence of a funeral is to celebrate the life of a person that is dear. Truly, the last thing the deceased would want is to bury their family in debt over some funeral flowers.
- Plan Ahead – As we mentioned, if you still do not have any funeral plans or insurance policies, then you might consider getting yourself one. Nothing beats being able to sleep at night without worrying whether you will get yourself a proper funeral. Oftentimes, a rushed funeral will cost a family more than the average because of the urgency. That is why it is best that you and each member of your family have a funeral plan or funeral savings.
As long as you are living, it is never too late to start saving for your funeral. In fact, it is encouraged and much more helpful in the future if each member of your family has their own funeral savings. There are many life insurance companies that can help you with this and this is especially so if you are working in a company. Funeral expenses are really no joke and that is why we hope that we have encouraged you to start saving for yours.