5 Funeral Expenses That People Commonly Overlook

5 Funeral Expenses That People Commonly Overlook

There are many costs to consider following the death of a loved one. If you’re lucky enough, plans will have already been put in place for paying for all of these expenses (such as life insurance or a pre-paid funeral scheme). If this isn’t the case, you’ll need to go through all of these costs yourself and pay them out of your own pocket.

A funeral advisor may be able to help provide a full breakdown of the costs that you need to consider, as well as helping to guide you through various funding options. Below are just some of the costs that can often get overlooked when planning a funeral.

1.  Death Certificates

Death certificates are often needed as proof when accessing bank accounts, making life insurance claims or freeing up stocks and bonds. It’s worth having a few copies for this reason. The cost of death certificates can vary by state – you could pay anywhere from $6 to $25 per copy. Make sure to factor this into your budget when planning out all the funeral costs. 

2. Flowers

Flowers are a big part of the funeral. However, many people are unaware of just how much they can end up costing. On average, people spend between $200 to $800 on funeral flowers. This includes wreaths, bouquets and button-holes. You can save money on funeral flowers by using online florists and by shopping around for deals. You should also think about which flowers are necessary.

3. The Headstone

If you plan to have your loved one’s body or ashes buried in a cemetery, you’ll need to consider a headstone. Headstones can vary in cost – some people spend as much $3000 on a headstone. However, you don’t have to spend this much to get a good quality headstone. There are many sites online that sell a range of headstones including infant cemetery headstones and veteran headstones for less than $1000. Prices can vary a lot depending on the material, design and inscription. 

4. Cemetery Charges

The cemetery will charge a fee for placing the casket or urn in the ground. This can vary depending on the cemetery – some people spend over $1000 on the vault alone. Some plots may be more expensive than others due to their location and you may only be able to secure a plot for 25 years in some cases (although you’ll be given the chance to renew this). You can find out about this by talking to the cemetery owners. 

5. Obituaries

Some people like to memorialize their loved one by getting an obituary written and published in the local newspaper. This can cost anywhere from $200 to $500 depending on the content. Consider keeping the obituary short in order to reduce the costs. Obituaries aren’t as popular as they used to be due to less people reading local newspapers – you may find that a memorialized Facebook page is just as fitting a tribute (and this doesn’t cost anything). 

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– a contributed post

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3 Tips on Planning Ahead for Retirement

3 Tips on Planning Ahead for Retirement

Thinking about retirement is a hard pill to swallow for some people, while for others, it’s a happy idea to dream about. Retiring is something each, and every one of us will have to do at some point, and the goal is to have enough funds saved up by the time you arrive at your retirement age. Some people rely on the pension fund contributed by themselves and their employer each month, while others feel it’s not nearly enough to make ends meet when the time comes. That said, here are some tips on planning ahead for retirement – it may feel unnecessary now, but one day you’ll be giving yourself a massive “THANK YOU” when you’ve reached the point where you stop working and just enjoy life at its fullest.

#1 – Invest While You’re Young

This is advice given by various business tycoons and some of the wealthiest entrepreneurs. Investing while you’re young and the risk is still relatively low can catapult you towards the future and save you a load of steps financially to reach the same level. There are a few long-term investment opportunities you can consider. Still, the best route to take would be to consult with someone who specializes in financial planning and hearing from them what realistic options are available to you. These long-term investments go untouched for years and even decades, building up a nice cushion for your retirement days.

#2 – Save, Save, Save!

Saving money is a foreign concept to some people, and it can be hard to have such control over your finances that you can save money each month and not spend it. The key to saving money is to make it an equal priority on your budget, just like any other necessity such as your mortgage or insurance. This means designating an amount of money that goes to your savings account each month on a non-negotiable basis. Be sure to have money allocated toward spending as well, because it is realistic to say that you will spend an amount, however small, each month on a date night or a present for someone, etc. Not putting aside money for spending will ultimately cause you to take from the savings money, which will defeat the purpose of the entire exercise altogether.

#3 – Start A Business or A Side Hustle

This is an optional step. But, if you have the time and the resources, starting something on the side to generate an income can help you save money for your retirement tremendously. You can pursue anything you’d like, however small, but coming home from your nine to five and continuing work on your side-business will have to be the norm. This means you’ll have to make a consistent decision each day to push on and make the most of the time available to you so you’ll be able to live a comfortable life one day when it’s your turn to relax and just live.

The above steps are some of the steps you can take in order to start planning for your retirement early on. Some people arrive at their retirement, only to realize that they haven’t made enough money to carry them through. This is an unnecessary situation and can be avoided altogether; you’ll just need to start doing something about it long before anyone else does!

best,

– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

15 Father’s Day Gift Ideas That Won’t Break The Bank

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How to Plan For Retirement while You’re Still Young

How to Plan For Retirement while You’re Still Young

Thinking about retirement is a hard pill to swallow for some people, while for others, it’s a happy idea to dream about. Retiring is something each, and every one of us will have to do at some point, and the goal is to have enough funds saved up by the time you arrive at your retirement age. Some people rely on the pension fund contributed by themselves and their employer each month, while others feel it’s not nearly enough to make ends meet when the time comes. That said, here are some tips on planning for your retirement while you’re still young – it may feel unnecessary now, but one day you’ll be giving yourself a massive “THANK YOU” when you’ve reached the point where you stop working and enjoy life at its fullest.

#1 – Invest While You’re Young

This is advice given by various business tycoons and some of the wealthiest entrepreneurs. Investing while you’re young and the risk is still relatively low can catapult you towards the future and save you a load of steps financially to reach the same level. There are a few long-term investment opportunities you can consider. Still, the best route to take would be to consult with someone who specializes in financial planning and hearing from them what realistic options are available to you. These long-term investments go untouched for years and even decades, building up a nice cushion for your retirement days.

#2 – Save, Save, Save!

Saving money is a foreign concept to some people, and it can be hard to have such control over your finances that you can save money each month and not spend it. The key to saving money is to make it an equal priority on your budget, just like any other necessity such as your mortgage or insurance. This means designating an amount of money that goes to your savings account each month on a non-negotiable basis. Be sure to have money allocated toward spending as well, because it is realistic to say that you will spend an amount, however small, each month on a date night or a present for someone, etc. Not putting aside money for spending will ultimately cause you to take from the savings money, which will defeat the purpose of the entire exercise altogether.

#3 – Start A Business or A Side Hustle

This is an optional step. But, if you have the time and the resources, starting something on the side to generate an income can help you save money for your retirement tremendously. You can pursue anything you’d like, however small, but coming home from your nine to five and continuing work on your side-business will have to be the norm. This means you’ll have to make a consistent decision each day to push on and make the most of the time available to you so you’ll be able to live a comfortable life one day when it’s your turn to relax and just live.

The above steps are some of the steps you can take in order to start planning for your retirement early on. Some people arrive at their retirement, only to realize that they haven’t made enough money to carry them through. This is an unnecessary situation and can be avoided altogether; you’ll just need to start doing something about it long before anyone else does!

best,

– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

15 Father’s Day Gift Ideas That Won’t Break The Bank

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Short Vs. Long-Term Rental In The World Of Real Estate

Short Vs. Long-Term Rental In The World Of Real Estate

Rental properties have always been a good way to make extra income for you and your family. While it can take a lot of work to secure the property you want, this process can be well worth it, giving you the chance to make a fortune if you play your cards right. Of course, though, a big part of this process will involve choosing the best way to rent out your properties to make sure that you make the most. To help with this, this article will be exploring long-term and short-term rentals to see which is the most lucrative for you.

Short Term Rental

Companies like Airbnb have managed to find a lot of success over the last few years. Short-term rental is best for people who want to go on vacation or business trips, and customers like this will usually be willing to spend more on their properties than those who are looking for long-term options. You can learn how a short term vacation rental can generate extra income with some research online, giving you the chance to get started with this process nice and quickly.

Of course, though, this option will always come with some challenges. You will need to find a property located somewhere that will suit short-term rental, and this can be difficult without spending a small fortune in the process. Tourist and business areas will be best for this, providing you with the chance to snag as many bookings as possible. Alongside this, you will also need to be prepared to do a lot of cleaning and maintenance, ensuring that each of your guests has the same experience.

Long Term Rental

Long-term rental tends to come with a lot more security than doing it short-term. You will have people living in your property permanently, and this means that you will always know how much money you’re going to make. You will also have more freedom when it comes to the location you choose for your property, as people are always looking for rentals no matter where you are. This can make it easier to secure a more affordable place to get your real estate empire started.

Much like short-term rental, long-term options also come with a few snags. To start, you will need to make sure that you have trustworthy people living in your place, and this can be hard to achieve. Alongside this, you will also be limited in the income you can generate, as long-term rental tends to be cheaper than short-term options. This sort of option is usually best for those who want to make sure that they are always generating an income from their properties.

Choosing between these two options when you want to rent a property can be a challenge. Many people find it hard to know what they need to do to make money in this sort of market, but it will only get easier the more you work on it. Of course, though, it’s always worth putting the effort in to get the best results.

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– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

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How To Deal With Big Unexpected Costs

How To Deal With Big Unexpected Costs

There are some expenses that we can budget for from month to month. However, there are other expenses that are harder to plan for. Such unexpected costs can do a lot of harm to our finances – especially if they’re big unexpected costs. A few examples of such expenses could include:

  • Car repairs
  • Home repairs
  • Theft
  • Fines
  • Increases in bills
  • Funeral costs of loved ones
  • Medical emergencies

Finding the best way of paying for these costs can help to limit the damage. Below are just a few ways to deal with big unexpected costs.

1. Use savings or equity

If you’ve got some savings kept aside, you could use these savings to pay for any emergency costs. This could prevent you having to borrow money. If these savings are for a specific goal (such as your first house or your retirement), you’ll have to weigh up whether it’s worth dipping into them.

Equity may also be an option. If you own a home, you may be able to look into an equity release to pay for any emergency costs. Just be wary that you’ll have to pay this back when/if you sell your home.

2. Ask to pay in installments

Depending on who the expense is owed to, you may be able to pay in instalments rather than paying the whole amount upfront. Many car repair centres and home repair companies offer such schemes. Unlike a loan, there is usually no interest on these instalments.

3. Borrow wisely

Borrowing money isn’t ideal due to the added interest fees you’ll pay, but could be necessary if it’s an emergency and you have no other options. Make sure to spend time shopping around for loans. You may be able to find specialist lenders that offer low-interest loans to help with certain disasters like unforeseen medical costs or funeral costs

Borrowing from family members could be another option. In these cases, you most likely won’t have to pay interest and you may have greater flexibility as to when you pay them back (within reason).

4. Get help from local charities

If you’ve been the victim of a crime, a fire, a natural disaster or illness, you may find that there is a charity out there willing to help you raise funds for reparations. You could even consider starting a crowdfunding campaign on social media. If you’ve got a noble cause, people will donate to it. 

5. Sell your clutter

You may be able to sell some of your unwanted possessions to pay for unexpected costs. Many of us have valuable items in our home gathering dust that could be converted into cash. You may be able to sell these online or you could try selling them to a local second-hand store.

6. Know your legal rights

There may be times when you can contest an unexpected cost such as a fine or a rising bill. A criminal defense attorney may be able to help you reduce a large fine. If you’ve been overcharged for a bill, you may similarly be able to get legal help.

In other cases, you may be able to access benefits or grants. Alternatively, you may be covered by insurance or a warranty.

7. Take protective measures against future unexpected costs

Some unexpected costs can be protected against by taking certain measures. For instance, you may be able to take out home insurance to protect you against a potential flood, or you may be able to invest money into flood-proofing your home. Putting aside some emergency savings could be an alternative option for funding unexpected costs.

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– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

15 Father’s Day Gift Ideas That Won’t Break The Bank

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