"Let's talk money!" That's something no one wants to hear in a relationship, it's an awkward conversation that every couple struggles to navigate - so always remember you're not alone. However, if you're tying the knot you really should make sure you're both financially secure and committed also. Zoe Bailey, director of financial planning at Tilney has some advice for how best to handle this conversation...
1. Be open about your finances Before you start looking at the different ways of combining your finances, it's important to have an understanding of your partner's financial situation, as well as being open about your own.
2. Know your options There is no 'one size fits all' approach to combining your finances. There are various ways of joining up your money – from a joint bank account, a combined account for utilities, joint savings, or simply having both names on financial products i.e. the mortgage. Married couples can also transfer assets between themselves – known as "inter-spousal transfers" – without triggering a tax liability.
This can be used to shift savings and investments in to the name of whichever partner is subject to a lower rate of tax or to make use of two Individual Savings Accounts allowances. Sit down and discuss your options so you can discover what works best for your relationship.
3. Decide the best approach to managing your finances Some couples prefer it if just one person takes charge and manages the family finances. If you decide this approach works best for you, then make sure you're both aware of what your outgoings are and clear on your budgets.
4. Make the most of tax benefits While most people tie the knot for love, many couples recognise marriage as tax efficient arrangement as well. One tax perk is the marriage allowance, which is available to couples who are married or in a civil partnership and where neither person is a higher rate tax payer. The lower earner can transfer £1,250 of their annual tax free personal allowance to their partner - creating a tax saving of up to £250 a year – more than enough to cover a Valentine's Day candlelit dinner for two in future years.
5. Til death do us part The tax benefits of marriage are not solely confined to the couple's lifetimes. One of the biggest financial gains comes in the event of death. Unmarried couples can pass assets valued up to £325,000 upon death, but anything above this is subject to 40% inheritance tax. Therefore, if a partner is left a house that far exceeds this value, for example, they could end up having to sell it. However, a deceased spouse / civil partner can pass an estate of any worth to the surviving spouse without immediate tax consequences.
6. Think about the long-term Discuss your future plans both immediate and long-term. This will help and encourage you both to save towards them. Whether it's a house deposit, a family holiday or retirement, create a savings plan to achieve what you'll need.
Pre-wedding nerves, relationship advice and the secrets to a long, happy marriage
Planning a wedding is one of the most exciting seasons in a couple's life. It is also one of the most emotionally revealing. As someone who has coached over 1,300 women into healthy, committed relationships and marriages through my Love Success Framework, I can tell you this: the way you handle wedding planning is often a preview of how you will handle marriage. Not because of the flowers. Not because of the guest list. But because of how you navigate stress, expectations, decision-making, and emotional needs together. A wedding is an event. A marriage is an energetic ecosystem.
READ ARTICLE
Wales Perfumery has announced the launch of The Celts Collection
Wales Perfumery has announced the launch of The Celts, a collection of five artisanal fragrances inspired by the distinct Celtic tribes of Wales, Scotland, Ireland, Cornwall, and Brittany. The range represents three years of historical research and olfactory innovation by perfumer Louise Smith.
Departing from traditional fragrance development, The Celts began with in-depth research into how Celtic peoples lived – what they traded, ate, and celebrated. Each scent features bespoke accords created exclusively for the collection, resulting in compositions that push the boundaries of fragrance creation and offer something truly distinctive for couples seeking a meaningful and unconventional scent for their big day.
READ ARTICLE
Thoughtful Wedding Gift Ideas for Gay Couples
The joy of a wedding is a beautiful occasion, and finding the perfect gift to celebrate a gay couple's special day is an opportunity to express your love and support. Beyond traditional registries, a wealth of unique and personal gifts can truly reflect their journey and shared future. This guide explores a range of inspiring ideas, highlighting some fantastic artisans and companies that cater to diverse tastes and celebrate love in all its forms.
READ ARTICLE
Local supplier spotlight: Cottrell Resort
Cottrell Resort is a twilight wedding–only venue, beautifully set among charming golf courses and surrounded by rolling fairways and meticulously manicured greens. Its clean, modern design blends effortlessly with the natural landscape, creating a relaxed yet refined atmosphere. Outdoor patio areas overlook the course, offering sweeping views across the countryside, making the setting feel peaceful and scenic.
The interior offers a warm and stylish environment that feels magical as day gently turns to evening. Soft lighting and elegant finishes create an intimate ambiance, while large windows frame the changing light over the golf course. The flexible layout allows the space to transition into a romantic evening celebration.
