38% admit they would struggle to cover the expenses of a funeral

A recent survey commissioned by finance experts ABC Finance has cast a stark light on the nation’s ability to cope with the cost of a funeral with 38% of admitting they would struggle to cover the expenses of a funeral for their next of kin.

ABC says that the study’s findings are an indicator of the current economic climate and its impact on standard living practices and traditions. As the cost of living crisis continues to tighten its grip on households, the notion of a ‘traditional funeral’ is being reconsidered,and, in some cases, regrettably relinquished.

The research also found that 27% of people are now considering bypassing a funeral altogether. This figure is not merely indicative of changing financial priorities but also suggests a significant shift in cultural attitudes towards death and remembrance. The concept of a ‘no funeral’ approach, unthinkable to many just a decade ago, is increasingly entering the world of consideration, driven by necessity rather than choice.

Gary Hemmings Finance expert from ABC Finance, said “This trend points to a broader reevaluation of what is essential and what can be foregone in times of financial strain. It underscores the urgent need for innovative solutions and support systems that can provide relief to those caught in this dilemma.”