Most people don’t know, but generally think a funeral is "expensive". Contrary to popular belief, though, the cost of a funeral has become lower in relation to most other products and services.

Even so, if you don’t have an idea of what’s involved, funeral expenses could seem to be costly, confusing, and never-ending. If you know what to expect you will be able to understand and control those costs.

1. Professional Services

Includes such things as transportation of the deceased, embalming (if requested), completion of legal documents, burial permits, cremation documents, consultation, and other costs of staff, facilities, vehicles and equipment.

2. Merchandise

Refers to material items such as a casket, an urn or guest book.

3. Disbursements

Disbursements are fees paid on your behalf for other products and professional services involved in the funeral such as honourariums, flowers, or luncheons.

4. Resting Place

These costs are associated with wherever the remains of the deceased are permanently placed. This includes not only a cemetery or columbarium, but also (in the case of cremation) scattering by land, sea or air. Costs can vary greatly. The funeral directors listed in this Guide have no vested interest in a cemetery; they can provide you with the best options and can sometimes acquire property for you at substantial savings.

5. Memorialization

Includes the purchase of a monument and a memorial plaque, or another form of memorial such as a donation.

One of the best ways to prevent overspending is through pre-arranging. That way, you can discuss your selections and choices, consider the total cost, and keep your decisions on file with the funeral home. If you wish, you can also pre-pay those expenses at today’s prices to reduce the effects of inflation in the years ahead.

Wiegers Financial & Benefits is one of the largest private financial planning and employee benefits consulting firms in Saskatchewan. Its Saskatoon Financial Planning Division provides business owners, households, retirees, and students with expert investment and insurance planning services to help them reach their long-term financial goals. They also have a Benefits and Personal Insurance planning division. In this latest Wiegers Financial tip they share information and advice that is good for your health! Wiegers Financial Benefits are Trusted Saskatoon Financial Advisors and Trusted Saskatoon Insurance and Group Benefits experts

How Planning for Your Financial Success is Good for Your Health

If you’re like many Canadians – four out of ten of them, to be exact – you feel stressed when you think about money. And while some stress is not necessarily problematic, chronic stress can lead to:

Heart disease
Stroke
High blood pressure
Immune functioning problems
Unhealthy habits, including smoking and excessive consumption of alcohol

Stressing about money, then, can harm your physical health (not to mention the potential negative impacts to your mental health, relationships, productivity at work, and a whole host of other things in your life). It’s a problem worth solving… and the sooner, the better.

The solution, in many cases, is working with a financial advisor who can help you plan for your financial success. Your advisor should, at minimum, talk with you about what matters to you, your short- and long-term life goals, and what you can realistically achieve (and in what timeframe). And it pays off in more ways than one. In a recent survey, people who said they are financially prepared were:

Almost 24% more likely to exercise one or more hours each week
Almost 25% are more likely to say they are “very healthy.”

So, what can you do to be better financially prepared? Here are a few tips to help strengthen both your financial and physical health:

Work with a financial advisor (a HUMAN advisor – not a robot) who can help get you from where you are to where you want to be. Don’t underestimate this step. If you decide against working with an expert, it’s akin to providing yourself with life-altering legal or medical advice that could also wreak havoc on the lives of the people you love most. By contrast, if you work with a financial advisor, he or she will genuinely care to help you achieve your goals and will have the experience and expertise to help you do it.
Manage your debt. For most Canadians, debt causes stress – and the higher the debt, the greater the chance of depression and high blood pressure. Again, a qualified financial advisor can help you develop a plan for controlling your debt – and the resulting stress.
Save for your future. If you’re among the 60% of Canadians who worry they won’t have enough money saved for their golden years, don’t despair. You-know-who can also help you develop a plan for saving that will help ensure a retirement you can look forward to.

If you’re not sure where to turn in finding a financial advisor who will work in your best interests now and in years to come, ask your friends, family, and co-workers if they can recommend someone. You can also, and probably should, look online for unbiased, uncensored reviews like on Google. The same as in every other industry, some advisors have more experience and better reputations than others, so it’s important you do your research. It’s worth it to invest the time, now and later, in helping to ensure your future financial success.

Taylor Szeto, B.Comm.

Insurance Representative, Wiegers Financial and Insurance Planning Services Ltd.

Account Representative, Manulife Securities Investment Services Inc.

Wiegers Financial & Benefits has a trusted team of more than 20 financial advisors, and its support staff includes individuals who are true experts in their field. Many of them specialize in working with clients with unique needs.