Save Money, Plan Ahead
Chris Merlino
Chris is the owner of Buklad-Merlino Memorial Homes. He is an Expert Contributor for Hamilton Square Neighbors magazine where this was originally published.
We all want to leave our loved ones something to remember us by, but that something is not a large expense — or worse, debt.
A little planning ahead can make all of the difference in what lies ahead. There’s no way to get around it: even economy-funerals can become expensive when you start adding in unanticipated costs of every aspect of being laid to rest. There are no completely free funerals. And, the cost of a funeral ranges from very simple to elaborate and lavish events.
Some of the Benefits of Planning Ahead
Planning ahead allows you to design the funeral that you want and pay for it over time. Those who mourn can focus on your legacy and not have to worry about where the money is going to come from to cover your expenses.
There are other benefits to planning ahead as well. When you purchase your funeral in advance you lock in the costs and current rates at that time. If you live another 20, 30, 40, 50 years or more, you never pay a dime more than the original agreement. We all know that inflation is just part of the passage of time. How much did a car cost 40 years ago?
Look, we know that not everyone has a few thousand dollars of disposable savings just sitting in a bank account ready to set down on a big expense like a funeral, but that is exactly my point. It’s is better for you and your family to have a manageable payment plan that can be paid off over time.
By locking in today's rates, you will save money and when the time comes you’ll be prepared. Should you pass before your funeral is completely paid off, you will have at least made progress towards paying it off, and your loved ones will have the benefit of important decisions already made.
I know, planning ahead isn’t always easy, but many things that are worth doing share that distinction. The bottom line is that planning ahead saves: it saves money, it saves confusion, and it saves your loved ones from having an extra burden. I have planned ahead because when my time comes, I want to leave my loved ones in the best, most gracious way that I can. I want to leave them with memories and not expenses.