Funeral costs are soaring, leaving families struggling to cover expenses. It’s time to talk about end-of-life wishes and find affordable options.
London: The cost of saying goodbye is getting out of hand. A simple funeral now averages £4,285. That’s a 3.5% jump from last year, which is way above inflation.
This info comes from the latest SunLife Cost of Dying report. It shows that even in death, costs are climbing. Back in 2004, a basic funeral was just £1,835.
If prices had only risen with inflation, we’d be looking at around £3,211 today. But nope, it’s shot up over £4,000, making it tough for grieving families.
Many folks haven’t seen their wages go up in real terms for 16 years. The total cost of dying, including everything from funerals to estate fees, is now a staggering £9,797.
Both Labour and the Tories have pushed taxes and living costs to new heights. And guess what? Dying costs have followed suit.
Funeral expenses are a huge financial hurdle for many. Less than two in five people leave enough money for their funeral, so families often have to step in.
On average, families need to find an extra £2,371. Some dip into savings, while others borrow from friends or even sell personal items.
Where you live also affects how much it costs to die. London tops the list, with average funeral costs hitting £5,449, a 5.4% increase from last year.
More people are opting for direct cremations to save money. This means the deceased is cremated without a service, and families often hold a celebration later.
Direct cremations cost about £1,597 and now make up 20% of funerals, up from just 3% in 2019.
Mark Screeton from SunLife suggests families should chat about their end-of-life wishes. One in five don’t know what their loved ones prefer.
Over half aren’t sure if the deceased wanted a burial or cremation. This confusion can lead to overspending, as many feel pressured during planning.
When asked, a third of people want their families to spend as little as possible on their send-off. Having a conversation can really help clear things up.
Screeton believes a send-off doesn’t have to break the bank. A direct cremation followed by a DIY gathering could be a lovely way to say goodbye.
