Getting married


Planning a wedding is such an exciting time but there is a lot to think about.

As you start making your plans, it’s important to do your research. Make a list of all the things you want to include to make your day special.

It’s also worth working through not only what you need for your big day, but how you’ll pay for it. We can help you with some of your options.

We’ve got some things to think about as you start your journey to married life.

Review your finances

Book a personal review appointment to look at your finances with a Banking Consultant. They’ll be able to give support and guidance on better money management and your budget.

Personal review

Work out your budget

Make a list of all the things you want for your special day and decide how you are going to pay for it. If it’s with savings, we can help you boost your wedding fund by using our budget calculator. See where you can reduce your expenses and add extra money to your wedding pot.

Budget calculator

Paying for your wedding

MoneyHelper quotes the average cost of a wedding to be £31,000. So it’s a good idea to plan as far ahead as you can and give yourself time to save. If you don’t have the savings to pay for the wedding in full, we have some credit options for you to think about. But it’s important that you look at the options carefully and select what’s right for you.

Borrowing options

Future planning

Getting married isn’t just about the wedding day. It’s about building a future together and that includes your financial future. Talk about money and make sure that you share your financial goals. Here are some of the things that you may want to include;

Spending priorities. It’s good to make sure that you share the same attitude to money. Aligning your priorities may help to avoid conflict over future spending and saving. Our spending insights tool may help you have this conversation. It shows you where your money goes each month and what your spending patterns are.

Joint accounts. A joint account may not be right for you, but it’s worth thinking about. You could use it as an account for your household bills to help you budget.

Be open and honest. It can be difficult to talk about money, particularly if you are bringing debts into your marriage. Be open about any debts you may have, so that you can manage your finances as a couple, with confidence.

‘Your’ money or ‘our’ money? It is a good idea to understand whether you and your partner are in agreement on whether your finances are ‘yours’ or ‘ours’. Having an agreed view may help you feel more like a partnership.

Your financial goals. Discuss with your partner your future goals. You may have your sights on a new car, but they may want to save for a holiday. Whatever you hope for, talking about your plans and setting a budget may help you achieve your goals. We also have support on our financial planning pages, that may help you turn your plans into reality.

Household bills. It’s a good idea to have a regular chat about your household bills. Talk about how you’ll manage your monthly household budget. Agree who will look after the bill payments or renew contracts for utility bills, so that you continue to get a fair deal. 

Joint bank accounts

If you decide a joint account is right for you, it could be an easy way to help you manage your money. It’ll help you manage your budget and you can keep track of shared spending. See if this is right for you.

Joint accounts

Once you are married, you’ll need to make sure that you update your personal details. You can do this with us by popping into your local branch to let us know.

Also tell HMRC that your personal details have changed so that you are taxed correctly.

If you have a pension, you may also want to update your pension beneficiary. Contact your pension provider and let them know.

If you don’t already have life insurance, this is important if you have a dependent spouse or child. Think about putting this in place.

If you have any financial assets, it’s also worth thinking about writing a Will if you don’t already have one.

Another thing to remember is your credit report. Getting married won’t impact your credit file, but having joint finances creates a ‘financial association’ and so this will impact your credit file. 

Protect your loved ones

Life insurance could provide a cash lump sum if you die. It will help to make sure your loved ones aren’t left in financial difficulty. Depending on the cover you select, it could pay off the mortgage and any outstanding loans or bills. Giving you protection and peace of mind, in case the unexpected happens.

To be eligible for life insurance you need to be a UK resident, 18 or over, and under 60.

Life insurance

Write a Will

It’s probably not at the top of your ‘to do’ list as you plan your wedding, but don’t forget to write a Will. Should the unexpected happen and you don’t have a Will, the rights of succession will dictate how your money, property or belongings are shared, after you die. You can learn more about having a Will, from the Citizens Advice Bureau.

Learn about Wills

Financial association

Being married or sharing the same address does not create a ‘financial association’ and therefore these alone will not impact your credit file. However, if you have joint finances, for example a mortgage or joint bank account, this will create a financial association. A lender may then look at information about that person’s credit history when deciding whether to give you credit.

You can check your TransUnion credit score and view your full credit report for free. This is available in our Mobile Banking app or Internet Banking.

Your Credit Score

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