Summer is approaching and love is in the air for couples planning to tie the knot this year. According to recent research marriage is as popular as ever - there were nearly 268,000 weddings in 2000. But as those who have already tied the know will attest, planning a wedding is a stressful time - particularly when money proves to be tight as it is for many of these couples. Mortgage and savings provider Birmingham Midshires is urging couples to think about how their finances will need to change after their big day.

Like it or not, tying the knot these days also means tying up finances. Starting married life is, inevitably, a time of great change in both partners' financial circumstances, and couples should take time out to sit down and sort out their finances well before the big day. Paul Fincham, a spokesperson for Birmingham Midshires, commented: "It can be very easy to let money become a touchy issue within a relationship. It is important that both partners play a part in making the household finances work."

The biggest financial commitment couples are likely to make when getting married is setting up home together. If you're planning on moving around within the first couple of years, maybe because of your job, it's probably wiser to rent for a while. Most couples, however, want to get a foot on the property ladder quickly. Where both partners have previously owned their own homes, it may be worth considering transferring one of the properties onto a specialist buy-to-let mortgage to generate an income from it.

Paul Fincham explains: "With the support of specialist advice, renting out one of your properties could be a profitable long-term investment. If it is an option that you are considering, you should consult a specialist lender, like Birmingham Midshires, who will be able to advise you on the best course of action."

You'll also need to check how your tax is affected and inform your local tax office about any change in your circumstances. If you are unsure about how much tax you should be paying, it is important to seek advice from your local Inland Revenue office. Setting up a savings account should be a priority too. If you're not going to be dipping into your money for a few years, it's worth considering an ISA - Individual Savings Account - to ensure you are making the most of your tax-free savings allowance. In particular, if one partner is in the 40 per cent higher tax bracket you should investigate how you can maximise your savings to ensure that they are as tax-efficient as possible.

Perhaps you want to commit to a regular savings habit? The Birmingham Midshires Quantum Regular Savings account pays 4.80 per cent Gross/AER - amongst the top six best-paying regular savings accounts at the moment.

Life assurance is a must. If you don't have children, the amount of assurance cover you need depends on how much your surviving partner's standard of living would be affected by your death.

While life assurance is a sensible precaution, couples should not forget to allow for the possibility of reduced income through ill health, accident or unemployment. Mortgage Payment Protection can either be arranged through your lender or you may wish to shop around for the best policy.

Finally, morbid though it may seem, make a will! It's never too early to arrange and putting it off could land your loved ones with unnecessary hassle at a difficult time. Remember to keep it up-to-date, as your financial circumstances will change as the years go by.