iCrowd Newswire
01 Feb 2023, 00:48 GMT+10
Saying goodbye to a loved one is never easy. If you are faced with the difficult situation of honouring their memory but have limited funds, funeral financing can be your saving grace; getting a funeral loan or a credit card are options for quick and immediate financing. There's no need for financial stress to add more worry and grief during this tough time - let finances help make sure that they get the final send-off they deserve.
When planning a funeral, it's important to understand the costs involved. From burial fees to obituaries and more, there are many expenses you should consider when budgeting for your loved one's last moments of tribute.
The average cost of a traditional funeral with burial in Canada is between $5,000 and $10,000. And cremation costs on average between $2,000 and $5,000. These costs can vary significantly from province to province and are dependent on the choices made when planning, the cost of living in the area of planning and the time of year for the funeral. For example, winter funerals may cost more money because it will be harder to break ground when it is frozen or store the coffin until the ground thaws.
Finding the resources to pay for a funeral can be difficult, but you have options. Banks, credit unions and online lenders are available if you're looking for an external loan source. Additionally, some funeral homes offer financing through affiliated partners, however, they don't always come with favourable rates.
A funeral loan is essentially a personal loan that requires no collateral to borrow. This may be your best solution, with competitive rates available for those with better-than-average credit scores. An online lender can provide you with approval in 2 minutes and funding the next business day.
Pros of a funeral loan
Cons of a funeral loan
Credit Cards offer convenience and immediate funds. If you choose to pay with a credit card it could end up costing you in the long run if you are unable to clear your balance and rack up high-interest rates fees!
No matter what type of financing you use to pay for a funeral, it's important to think carefully about the decision. Funeral expenses can be expensive, so it's important to make sure that you have a plan in place before making any financial commitments. Taking some time to research the different types of financing available and understanding all of the costs associated with funeral services will go a long way towards helping you make an informed decision.
Reference: https://www.sunlife.ca/en/insurance/life/how-much-does-a-funeral-cost/
See Campaign: https://www.iquanti.com
Name: Carolina d'ArbellesEmail: [email protected]Job Title: PR Specialist
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