People would have to be in denial to think "they" were using "their" available credit because it instantly became a "me alone" since the other one is dead. Then most likely "she" but maybe "he" will be stuck with reduced income and other final expense bills besides funeral and cemetery cost which need to be paid immediately.
Updated Burial and Cremation Cost Sheets with Credit Card Payoff Chart
- Thread starter Justin Bilyj
- Start date
- Thread starter
- #12
The math is way off at the bottom of the Average Funeral Cost sheet. $319.80 x 22 years and 1 month would be $84,747...not $22,545.
Have you used Compare Funeral Homes | Parting ?
I used Bankrate.com using the mean minimum monthly payment %, average credit card interest rate.
Credit Card Minimum Payment Calculator - Bankrate.com.
Also, the figures were the national averages from the Funeral Director's Association stats from 2018:
Statistics
Most funeral pricing sheets (including MOO's Legacy Safeguard) use those figures to quote burial and cremation costs. I also see some FE imo's using the sheets as well...
- 30,589
I'm just pointing out that the math is wrong at the bottom of both printouts.
- Thread starter
- #14
Credit card payments never are static - the chart shows the monthly payment goes down. I guess I should change it to "beginning" monthly payment - but the fact of the matter remains - that's how much it will cost to pay-off.....
- 17,077
I can see where that confuses people. They are only showing people what they want them to see. They want the cremation prices to look as close to a traditional funeral price as possible. But in reality only around one person in 50 is going to have that type of cremation service.
They aren't showing you the direct cremation price. Just to verify that I am telling you correctly, call three funeral homes in your area and ask the price of a direct cremation. It will be in the range of $2000 or in many areas much less than that.
Then ask them if you added a memorial service at the funeral home how much more that would be. You'll find it's usually in the $3500 range for everything. I'm talking about a memorial service without the body present. Just the cremains in an urn at the service.
I'm sure these prices are going to be much more realistic than those you are going by. And most cremations will be direct or direct with memorial service.
- 30,589
Creamation -The monthly payment would be $197.55 per month and it would take 19 years and 3 months to pay off – costing a total of $13,791...my calculator comes up with $45,634.05...NOT $13, 791.
Funeral -
The monthly payment would be $319.80 per month and it would take 22 years and 1 months to pay off –costing a total of $22,545...my calculator comes up with $84,747...NOT $22, 545.
These figures are rediculously wrong.
- 2,045
I wonder if the middle class and up would respond to the little green card. And instead of leading with and shopping simplified issue, we use a state regulated SPWL policy to show how much benefit they qualify for. I think I just reinvented the wheel.
- 30,589
I see that you're talking to yourself again.I wonder if the middle class and up would respond to the little green card. And instead of leading with and shopping simplified issue, we use a state regulated SPWL policy to show how much benefit they qualify for. I think I just reinvented the wheel.
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