3. Personal Beliefs: Religious, cultural, or personal beliefs may dictate that simpler or less extravagant funerals are more appropriate. If you decide not to spend a large sum on a funeral, here are some alternatives for the money: 1. Invest in education: Consider using the money for your or your loved ones' education. It can help improve career prospects or further personal development. 2. Donate to charity: Supporting a cause that is meaningful to you can be a wonderful way to honor a loved one's memory.