When talking with the funeral director ask whether your local newspaper will print a free obituary. You will be limited to a certain number of lines or words, but most funeral homes have a website where they will publish a longer obituary for free.
So, put the basics in the newspaper with a reference to the website. Make sure to request that donations be sent to Hospice or another group that assisted your loved one.
Be careful of the type of information you include in an obituary. Don't have the time and place of the funeral; criminals have used this information to burglarize the deceased's home while they know everyone is at the funeral. Also, never include birthdates or other specific information that would allow for identity theft.
It's sad, but true. The obituary should just be used as a notice for people who knew your loved one and already know the specifics.