Let's talk about the money, money, money

Even the healthiest of relationships can come under strain when couples have to talk about money matters; and this doesn't get any easier when planning a wedding where you'll find yourself discussing expenses and the cost of things more than ever before. If you got engaged over the festive period, then not only are you recovering from the expenses of Christmas and New Year, but you will also now be thinking about a wedding budget.

Chris Henderson, Savings and Payments Director at Tesco Bank says, "No matter what time of year it is, having open and clear conversations about the health of your finances is an incredibly important part of any relationship. Wedding preparations and budgeting go hand in hand for most couples, but there are other things to consider too. Setting aside time to discuss your savings goals, planning for the future and ensuring you're both protected for life's ups and downs is key so you can both avoid any nasty surprises or potentially expensive frights later on."

Here, Chris shares his tips on how to avoid surprises ahead of your wedding day...

Stick to your budget so you don't stray from the path
Whether you're at the start or midway through your wedding prep, it's well worth creating a clear budget early on. As you start paying out costs and deposits, make sure you both set aside time to talk about your expenses, and any tweaks that need to be made to your plan. This doesn't need to be super formal and is the best way to prevent any sudden or unexpected costs from creeping up.

Be brave and confront the money monster together
If you're finding it hard to keep costs in line with your set budget; it's best to tackle any money issues head on and do it together. For many, money is a big scary taboo, but it's always best to face up to your fears as a team! For example, in the months leading up to your big day, it might be worth swapping a takeaway for a 'make your own' date night or dropping to a lower price phone plan. While these can feel like small changes, they can make a big difference to your wedding finances over the course of a year.

Protect yourself against any surprises
Wedding insurance is important to consider. It can act as a knight in shining armour should anything happen to upset or potentially ruin your big day and give you both financial peace of mind. This is especially beneficial if you're working with lots of different vendors and suppliers and – if you're getting hitched abroad – there are some added rules and details you'll want time to consider too. Every insurance policy is different when it comes to cancellations, lost or damaged items, and even disruption due to extreme weather conditions, so it's important to read the fine print and make sure you're well informed on what you are and aren't covered for.

Build up a safe haven for life's twists and turns
Once the wedding festivities are over, it's very common for newlyweds to feel a little blue as they readjust their spending and savings habits for everyday life. While all big wedding expenses may be paid for, it's important to not lose sight of the longer term, whether that's another joint savings goal you have in mind or even building an emergency fund. Whether this is done in a joint or individual savings account, you can both have one eye on the future and protect the state of your finances later on.

Til' death do you part
Prenuptial agreements won't feel right for every couple, but some may want to consider this as part of their joint financial planning. A 'pre-nup' is a legal document which outlines how a couple's assets will be divided if they divorce or dissolve their civil partnership, and it can give couples a clear understanding of each-others finances. Earning potentials can vastly differ for each spouse, and so if you feel it might be useful and help mitigate any potential issues later on, then it's best to discuss the subject together before getting expert support from a solicitor and an accountant.

For more services and advice visit tescobank.com