Getting married

Your big day could be costly even if you're lucky enough to have parents helping you out, so you should set a budget and then try to stick to it. When setting your budget make a list of all the possible upcoming expenses and then allow an amount for extras - there will always be something you forget.

Be realistic about what you can get for your budget. Break down it down into sections - bride, groom, bridesmaids, venue, reception etc. Although at first this can be daunting it is the best way to keep track of how you are spending your money.

If you're a female and decide to change your name, make a list of all your bank accounts, credit cards, store cards, savings and investments. Remember to include any bills you hold in your name. Don't forget to change any official documents such as passports and driving licences. You will also need to contact your local council to have your name changed on the electoral roll.

Most companies or organisations will require a certified copy of your marriage certificate to process your new name, so it's a good idea to get a few copies done at the same time. Most will accept a certificate certified by a solicitor or bank/building society.

 

Top tips

  • Remember that stag and hen nights can be very expensive!
  • Now is the time to make a will or review an existing one.
  • When you move in with your partner, remember to tell the council you're no longer eligible for single person's discount on your council tax.
  • Consider taking out wedding insurance. You can get cover if you have to cancel the wedding, or loss or damage to items such as your dress, gifts or wedding cake or if there is a failure by one of the providers of your wedding services, for example caterers. Check any existing cover that you may have through your home contents insurance policy and find out whether this cover can be extended.

 

 

  • Review your life assurance. Have you got adequate cover in place should either of you die?
  • Keep your pension scheme informed of any changes in your personal circumstances. This can be done by completing an expression of wish form and checking that it still reflects your wishes.
  • Watch out for differing styles of money management. If you set up a joint bank account both of you accept joint liability. So if your partner is a spendaholic and makes a purchase without there being enough money in the account, you'll be held jointly responsible for the debt. And many credit agencies draw links between people with a joint financial arrangement, such as a bank account.  

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