11 February 2026
Brits are expected to spend a record £2.38 billion celebrating Valentine’s Day this year, according to ParcelHero. Yet amid all that spending, the occasion also provides a great opportunity to reassess your finances and see how you can strengthen them as a couple.
Talking openly about your finances might not feel romantic, but it can make a real difference. Many couples overlook the benefits and allowances available to them, potentially missing out on valuable savings.
A little planning now, perhaps even over a candlelit dinner, could help set you and your partner up for a stronger financial future.
Holly Tomlinson, financial planner at Quilter, says:
How popping the question can save you money
“This Valentine’s Day, popping the question could be one of the most financially savvy choices you make. While marriage isn’t for everyone, there is no denying that much of the current policy around tax benefits and allowances still favour those who are married or in a civil partnership. It might not be the most romantic way to think about it, but tying the knot does unlock certain tax advantages.
“Married couples and civil partners can pass assets between one another without triggering capital gains or inheritance tax using the ‘spousal exemption’. It’s a simple but powerful tool that allows you to gift generously to your loved one, as well as helping to distribute the tax burden between you and avoid unnecessary tax bills – particularly if you’re on the cusp of exceeding the £3,000 CGT exemption, for example.
“Similarly, the Marriage Allowance lets a lower‑earning partner transfer a portion of their tax‑free personal allowance to their spouse, potentially saving up to £250 a year. If one partner earns below the threshold and the other pays basic‑rate tax, it’s an easy win.
“Married couples can also combine certain allowances. For example, you could potentially pass on up to £1 million inheritance tax free by combining your individual £325,000 nil rate band and £175,000 residence nil rate band with your partner’s. This does come with some caveats, such as it being ‘tapered’ by £1 for every £2 of excess if the overall net value of the estate exceeds £2 million on death, and it only working for those with direct descendants who will inherit the family home, but the potential tax savings are significant compared to cohabiting couples who cannot combine their allowances.”
Keeping your will up to date, especially for cohabitees
“For those who are not married, it is important to remember that you unfortunately do not share the same benefits and tax breaks as those who are. Cohabiting partners don’t automatically inherit without a will unless they jointly own property, while a married partner would inherit all or some of their partner’s estate even without one. As such, ensuring you both have up‑to‑date wills in place is essential to be certain that your wishes will be fulfilled should the worst happen.”
Kane Harrison, CEO of Quilter Invest, adds:
Investing for your future together
“Discussing your financial goals may not sound romantic, but building a financial future together is one of the real markers of long-term commitment. While not everyone will swap roses for returns, Valentine’s Day is the perfect moment to spark new conversations about goals, dreams and what you want to work towards as a couple.
“For those new to investing, gifting a contribution can be a gentle, thoughtful nudge to help a partner take their first step. For those with a little more experience, it might be a helpful contribution towards a long-term plan. After all, a bouquet lasts a week, but an investment can last a lifetime.
“Investments can start small, but putting your money to work in the stock market can have a significant impact compared to putting it away in a savings account. For example, a £1,000 deposit in an average savings account five years ago (1 January 2021) would be worth £1,076.70 today*. The same amount invested in an average mixed‑investment fund would now stand at £1,312.12**. On £5,000, that’s the difference between £5,383.52* saved and £6,560.59 invested**.”
*Based on the return of the average savings account over the period (7.7%). Returns to 31 December 2025.
**Based on the return of the average fund in the IA Mixed Investment 40-85% Shares over the period. Returns to 31 December 2025.
