Why Are Funeral Costs Going Up?

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Funeral costs have been steadily increasing in recent years, with many factors contributing to the rise in price. According to the National Funeral Directors Association (NFDA), the median cost of a funeral in 2019 was $7,640, which is a significant increase from $7,181 in 2015.

One of the main reasons for the increase in funeral costs is the rising cost of goods and services. The cost of a casket, for example, has increased by an average of 3% annually over the past decade. Additionally, the cost of a burial plot has also increased, with prices varying greatly depending on location.

Another factor contributing to the rise in funeral costs is the growing popularity of cremation. While cremation is generally cheaper than burial, it still requires the purchase of a casket or cremation container, as well as a fee for the cremation itself. Additionally, many people are choosing to have a memorial service or celebration of life, which can add to the overall cost.

Another reason for the increase in funeral costs is the increased use of technology and services. Many funeral homes now offer online obituaries, live streaming of funerals, and other digital services, which can add to the overall cost. Additionally, funeral homes are also offering more specialized services such as grief counseling and pre-planning, which can also contribute to the rising cost.

Despite the rising cost of funerals, many people still choose to have traditional funerals, as they provide closure and a sense of tradition. However, it’s important for individuals and families to consider their budget and options when planning a funeral, and to shop around for the best prices.

It’s also important to note that pre-planning a funeral can save families thousands of dollars. Many funeral homes offer pre-planning services, which allows individuals to plan and pay for their funeral in advance at today’s prices, and avoid the inflationary price increases.

In conclusion, the cost of a funeral has been steadily increasing in recent years due to a variety of factors including the rising cost of goods and services, the growing popularity of cremation, the increased use of technology and services, and the inflationary price increases. However, there are options available such as pre-planning a funeral, which can help to mitigate the costs.Regenerate response