Many families today are concerned about funeral expenses. It’s not surprising, really; after all, according to the National Funeral Directors Association, or NFDA, the median cost of a funeral today is over $7,000. In fact, they’ve been conducting such profession-wide surveys for over 50 years, producing the following chart on the rising cost of funerals in America:
Cost of an Adult Interment: 1960 - Present
|Year||Cost of an Adult Funeral|
However you need to realize that this number doesn’t include the cost of a cemetery plot or mausoleum niche, or monument costs. It also doesn’t take into account any crematory charges, or cash-advance items, like funeral flowers or newspaper obituaries.
Interestingly, $7,000 isn’t as impressive of a number as the one for the average cost of a wedding in the United States. Can you guess what it is? A survey completed in 2012 by two of the top wedding-related websites, TheKnot.com and the WeddingChannel.com, revealed that the average amount spent on a wedding in 2012 was $28,427. That’s about four times the cost of the average funeral.
If the average American family in the 1960s paid $708 for a funeral, what did they pay for a wedding? Online statistics say about $1000–in other words, a family would pay about 35% more for their daughter’s wedding than their grandmother’s funeral. Other interesting facts about the cost of living in 1960 include:
• The median price of a new house was $12,700.00
• The average income per year was $5,315.00
• The average cost of new car was $2,600.00
Compare those figures to the ones for 2012:
• The median price of a new house was $146,000
• The average income per year was $51,000
• The average cost of a new car was $30,000
With numbers like those it’s no wonder the cost of a funeral today feels out-of-reach for many families. But it doesn’t have to be. The members of the Capital District Funeral Directors Association want you to know that they are committed to providing the highest quality services and products at costs you can afford.
With many available payment options, access to secured and unsecured credit, pre-paid funeral plans and trusts, life insurance assignments and burial insurance, families today can have an appropriate and meaningful funeral or memorial service for a loved one. We’ve also witnessed many families who come together for local fundraising efforts, or to engaging in online funeral fundraising through websites like Give Forward or Funeral Fund. Please speak with your funeral director about alternative financing options.