Losing a loved one can be one of the most difficult experiences in life. The expense of a funeral or cremation can make the process even more stressful. The average funeral costs between $7,000 and $12,000, which includes:
- Viewing
- Burial
- Transportation fees
- Embalming
- Other preparatory services.
These costs do not include extra expenses, such as a cemetery marker, monument, or flowers used to decorate during the procession.
There are a number of ways that you can save money after the loss of a loved one. Pre-arranged cremations in Philadelphia can allow you to get ahead of the planning process and begin setting aside funds. Many older men and women choose to pre-arrange their cremation or funeral procession to take some of the financial burden off of their loved ones after they pass away.
If you own a home, you may also want to consider funding a funeral or cremation with a cash-out refinance. A cash-out refinance is a special type of refinance loan that allows you to take out a portion of your home’s equity in exchange for taking on a higher principal loan balance. The average credit card has an annual interest rate of between 15% and 27% APR, while the average mortgage loan has an APR of 5% or less. This means that taking a cash-out refinance can be a much more affordable way to borrow money for a funeral ore cremation when compared to the cost of putting it on a credit card.
If you’ve recently lost a loved one and need to schedule a funeral service or cremation, call McCafferty Funeral Homes. Our Philadelphia crematories can help you give your loved one the memorial and service he or she deserves while also working within your budget. Our team is standing by 24 hours a day and 7 days a week to assist you when you need it.
