Getting Married or Civil Partnership and Debts

Getting married or getting into a civil partnership can be a meaningful event in one’s life. However, considering the costs at stake, it can also be expensive. Most of the time, people can be in debt due to this event.

Aside from that, moving in and starting a new life with your partner can also be costly. This can even be more difficult for someone who hasn’t manage household bills and essential living costs.

Though it’s normal for couples or partners to have arguments, dealing with debts in this stage and poorly managing finances can make it worst. However, you can still have a wonderful life together when everything is in order and well-managed.

Dealing with Bills when Moving in Together

There are several changes to one’s life when moving in together or getting married. They will have to take into account the costs concerning household bills and other essentials.

Before you decide to move in with your behalf or partner, you may need to talk about how you can deal with your priority bills and other costs. For instance, you can consider having a discussion on:

  • Who will cover the majority of the costs?
  • Are you going to set up a joint account or would prefer to pay separately?
  • Are there other expenses that needs to be taken into consideration?

Making a budget can help you and your partner manage your income and expenses. Once you have an arrangement on your household costs and essentials, it can be easy for you to track your spending and stay on course. Besides, making a budget, will help you limit your spending and determine how much money you have left each month.

Moreover, once you move in together, you may also check on how you can save money through:

  • Switching utility provider
  • Getting a better deal on TV package
  • Saving money on food and meals
  • Increasing your income and boosting your savings

How can we cover wedding expenses?

Weddings are costly. To some, it may be fine to take a pile of debts when for marriage. You should be vigilant and proactive in creating a budget and save money before tying the knot. Depending on your circumstances, you might qualify on the Help to Save Scheme so as to prepare for this event.

Moreover, you should decide how much will it costs for your wedding and examine your finances if you can cover such costs. If you’re able to figure out how much you need, you can start saving and estimate the costs.

The bottom line is to choose your priorities. If your wedding expenses spiral out of control, you might necessitate to set back and check on the costs itself and see whether you can diminish it.

Can we get married without spending too much?

Wedding costs are indeed expensive. This includes the venue, reception, an all costs associated with it. if you wish to check on how you cave more one wedding costs, the government website provides more information on how you can save more getting married or entering a civil partnership abroad.

What to do when families wanted to help with the costs?

If your family or the family of your partner, or friends, decide to help with the expenses, you need to know if they’re expecting repayments.

When they do, this can be determined as a loan from family and friends. If you are on a debt solution during this time, you have to inform your provider.

In case, they’re expecting payments, you have to inform them ahead of time when you can afford repaying them back and the terms of payments.

Will I be tied with my partner’s debt when we get married?

The law states, that you’ll be accountable for a debt that is under your name. Unless this is a joint loan or credit, you will be held accountable if your one of the person who took out this loan jointly.

If you get married it does not follow that you’ll be responsible for the debt that you do not owe. If the debt is taken in joint names, then you’ll be responsible for the entire amount. This is regardless of whether who spends the money. To know more read our guide on:

What can we do if we are in debt after getting married?

If you are struggling to pay off your debt from an expensive wedding or due to other reasons, we can help you. We cater to thousands of debt problems across the UK. We also have a debt solution that can help you gain control whatever your circumstances are. You can use our debt remedy tool, to get free and impartial debt advice or call us to speak with our debt specialists.

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