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58% of Americans Would Borrow for Funeral Costs

4/16/2026

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Summary

Story summary

CardRates.com's survey shows 58% of Americans would need to borrow to cover funeral costs, averaging $8,300.
Respondents would use loans, credit cards, or borrow from family and friends to pay these costs.
The findings reveal a financial blind spot in end-of-life planning across generations, including Gen X and Boomers.
Erica Sandberg, a consumer finance expert, urges preparation for these costs and points to low-interest loans or 0% APR cards.

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Story summary

CardRates.com's survey shows 58% of Americans would need to borrow to cover funeral costs, averaging $8,300.
Respondents would use loans, credit cards, or borrow from family and friends to pay these costs.
The findings reveal a financial blind spot in end-of-life planning across generations, including Gen X and Boomers.
Erica Sandberg, a consumer finance expert, urges preparation for these costs and points to low-interest loans or 0% APR cards.