Money management isn’t just about salaries and savings — it’s about navigating life’s major transitions wisely. From your first paycheck to retirement planning, the joy of a new baby to the challenges of bereavement, every life event carries financial decisions that can affect you for years.
Life Events Hubs
Financial Checklists
Structured action plans for major life milestones — first job, marriage, having a baby, divorce, redundancy, and bereavement.
Marriage and Relationship Finances
Combining finances, marriage allowance, joint accounts, financial implications of civil partnership, and prenuptial agreements.
Bereavement Finances
What to do financially when someone dies — probate, notifying institutions, bereavement benefits, and managing an estate.
Starting Out — First Job
Your first job is when financial habits form. The most important early actions:
- Enrol in your workplace pension — you get employer contributions for free (auto-enrolment minimum is 8% of qualifying earnings combined)
- Build an emergency fund — aim for 3 months of expenses in an easy-access account before investing
- Understand your take-home pay — use our take-home pay calculator to see what you’ll actually receive after tax and NI
Getting Married
Marriage and civil partnership create financial and legal ties. Key actions:
- Update your will — marriage automatically revokes an existing will in England and Wales
- Consider Marriage Allowance — worth up to £252/year if one partner is a basic-rate taxpayer and the other earns below the Personal Allowance
- Review life insurance and pension nomination of beneficiaries
- Decide on joint vs separate finances — there’s no single right answer
See the marriage finances hub for full guidance.
Having a Baby
Key financial support available when you have a child:
| Support | Amount (2026/27) | Who gets it |
|---|---|---|
| Child Benefit | £26.05/week (first child) | All parents (may be clawed back above £60,000) |
| Statutory Maternity Pay | 90% of earnings for 6 weeks, then £187.18/week | Employed mothers |
| Tax-Free Childcare | Up to £2,000/year per child | Working parents |
| Free childcare hours | 15–30 hours/week | 3–4 year olds (and some 9-month-olds) |
See maternity and family benefits for full eligibility details.
Divorce and Separation
Divorce has major financial consequences. Priority actions:
- Separate joint accounts and credit cards as soon as possible
- Get a formal financial order from the court — verbal agreements are not legally binding
- Value all pensions — these are often the largest marital asset after property
- Update your will, life insurance beneficiaries, and pension nominations
Bereavement
When someone dies, there are financial tasks to complete. See the bereavement finances hub for a full checklist. Key steps:
- Register the death and get multiple certified copies of the death certificate
- Notify DWP, HMRC, banks, and any pension providers
- Check whether probate is required (usually needed for estates over £5,000)
- Claim any bereavement benefits you’re entitled to
Approaching Retirement
Planning in the decade before retirement matters most. Key actions:
- Get a State Pension forecast at gov.uk/check-state-pension
- Trace any lost pension pots via the Pension Tracing Service
- Decide whether to take your pension as income (drawdown or annuity), a lump sum, or a combination
- Consider the impact of taking your pension early on your long-term income
See the pensions and retirement section for full guidance.