Sadly, this will affect all us at some point during our lifetime, and funeral costs plus sorting our the deceased’s finances can be stressful and a financial strain. The average cost of a funeral has risen to more than £3,000, but it can cost less than £1,000 – you don’t have to spend a fortune on a funeral. Being prepared now can make things easier for yourself and your loved ones. Here are some of our tips for making this easier for everyone:

Sort out your finances; make a list of your account names and which company they are with. Share this information with a trusted person.

Make a Will; this is your opportunity to decide who gets what. Free Wills Month is every March and October. Make sure a trusted person knows where your will is.

Decide who will look after your dependants; children, partner, pets.

Plan your Funeral; decide how you would like to be remembered – what is important to you?

Get quotes – shop around for the best funeral price, and enquire about options that will reduce the price. Don’t feel pestered or shamed into spending more than you can afford.

Burial or Cremation? Cremation is usually much cheaper. Ceremonies earlier in the morning can also be less costly.

Beware Funeral Payment Plans – these can be good value, but some do deduct fees and commission leaving only a fraction left to pay for the funeral.

Ask a friend – it can be hard to negotiate the best deal at such a difficult and emotional time, so ask a trusted friend to help. They may be better able to ask questions, consider options and get the best deal for you.

Help someone after you die – anyone can become an organ donor, giving the gift of life won’t cost you a penny

Funding help to pay funeral expenses – You may qualify for a funeral payment to help the costs of a funeral. Applications can be made up to 3 months after the funeral. The charity Turn2us have useful guidance on this.

How Advance Credit Union can help

Save for your funeral; putting a little aside every week or month with Advance Credit Union towards your funeral can take a lot of pressure off your family.

Your Credit Union savings are insured; your beneficiary will receive your savings plus an amount equal to your savings (conditions apply).

Your loan is insured too; credit union loans are automatically paid off in the event of your death (conditions apply).

A loan from Advance Credit Union could help spread the cost of a funeral.

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Recommended websites:

https://www.moneyadviceservice.org.uk/en/articles/how-much-does-a-funeral-cost

http://www.moneysavingexpert.com/family/what-to-do-when-someone-dies