How to Halve Funeral Costs as Prices Hit £4,285
With funeral costs soaring, families are seeking ways to cut expenses in half
Funeral Costs, Sheffield, UK, Direct Cremation, Financial Planning
Sheffield: The average cost of a simple funeral has hit a staggering £4,285. This has left many families in a tough spot, with one in five struggling to cover the costs. The latest report from SunLife shows that funeral prices have jumped 3.5% in just a year, while the total cost of dying now stands at £9,797.
To put it in perspective, a simple funeral, which includes everything from the coffin to the funeral director’s fees, has skyrocketed by 134% since 2004. If prices had only risen with inflation, we’d be looking at around £3,211 today. It’s a real eye-opener!
Interestingly, the overall cost of dying has only gone up by 1.4%, thanks to a slight drop in probate fees. But London is still the priciest place to pass away, with average funeral costs hitting £5,449. That’s a hefty 27% more than the UK average!
Direct cremations, which are basically cremations without a service, have also seen a price increase for the second time since 2017. They now cost £1,597, but they’re still the most affordable option out there.
During the pandemic, direct cremations became more popular, now making up 20% of all funerals, compared to just 3% in 2019. But here’s the kicker: only 38% of people have set aside money for their own funeral, which is causing financial stress for many families.
On average, families are scrambling to find about £2,371 to cover these costs. Some are dipping into savings, while others are using credit cards or borrowing from friends. It’s a tough situation, and it seems like talking about funerals is still a bit of a taboo.
When it comes to planning, many people are in the dark about their loved ones’ wishes. A staggering 18% didn’t know what their loved one wanted, and 51% weren’t sure if they preferred burial or cremation. It’s a lot to think about!
SunLife’s CEO, Mark Screeton, emphasizes the importance of having these conversations. He believes that a send-off doesn’t have to break the bank. A simple direct cremation followed by a personal gathering can be a lovely way to say goodbye.
Lynne Clarke, who organized a direct cremation for her mother, shared her experience. She found it comforting to know her mum had pre-paid, which took a lot of stress off the family. They celebrated her life in a local pub, and it turned out to be a joyful occasion.
Ian Atkinson from Pure Cremation expressed his shock at the rising costs. It’s clear that planning ahead and having open discussions about funerals can make a world of difference.