Living Rich by Spending Smart: How to Get More of What You Really Want</img> has the following to say about saving money on a funeral:
The most helpful, yet morbid, advice stems from this fact: No casket with gaskets, grave liner, burial vault, or any type of embalming will preserve a body indefinitely. Spending extra money trying to preserve a body is a waste.
That's why they make this recommendation -- the single-best way to save money on a funeral:
Forgo the fancy casket. The casket, with its 300% to 500% price markup, is usually the largest expense, ranging from about $2,000 to $10,000. The purpose is to have a decent-looking box to hold the body if there will be a viewing. Ask to see all the models because some funeral directors will at first show you only the expensive ones. Or purchase a casket somewhere else, even online, and have it shipped to the funeral home. The funeral director must use it and not charge a fee for using a third-party casket.
A few thoughts on funerals and costs:
1. Note to my wife and kids: when I die, DO NOT spend a lot of money on a fancy casket. I do not care what I'm laying in, I'll be dead. If you want to spend YOUR money to put me in some fancy casket, then realize that you're taking money that's yours and wasting it -- pouring it down the drain on an unneeded expense.
2. What a racket the funeral business is. It seems full of hidden fees, is something we all do infrequently (so we have no idea what a good deal is or isn't), people are in emotional turmoil when making financial decisions, and there's really no shopping around/price comparison (does anyone call around to funeral homes to check prices before they decide where to ship a body? I don't think so.) Anyway, the whole thing seems to be set up to cause a financial nightmare to whoever is footing the bill.
3. The last funeral I was part of was my grandmother's. Her casket was a doozy (heavy too). I'm sure it cost a pretty penny. Not that I cared, but reading the thoughts above, I'm sure it was closer to $10k than $2k.
Anyone else have thoughts on the financial implications of funerals? It's a topic I don't see discussed much so I think we all could benefit from the collective wisdom out there.
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