Money is a sensitive issue for many married couples. This is probably because most people do not bother to seek advice on how to merge finances with their partner until they start fighting about money. It’s no wonder that money is the number one reason for divorce.

If you want to avoid constant conflict over finances, there are a few basic rules of financial management that you need to adhere to.

Is a Joint account the way to go?

Most couples assume they have to decide between joint and separate accounts. However, the truth is that you can have a joint checking account that you use to pay your shared bills and separate accounts for your spending money. For working couples, each person pays a pre-determined amount into the joint account every month. The rest of the paycheck stays in the separate account providing a sense of financial independence.

Are you tracking your spending?

Budgeting and tracking your spending is critical to financial management. The purpose of tracking your spending isn’t to monitor each other’s spending and point fingers at each other but to keep track of where your money is going so that you can set goals that will lead you to financial security.

What are your financial priorities?

It is not uncommon for married couples to have different financial priorities. One person may think that buying a home is most important but the other thinks that saving for retirement is more important.

If you want to avoid marital problems, set your financial priorities together as a couple. This ensures that you are on the same page and working towards a mutual financial goal.

Do you talk about money regularly?

Talking about money isn’t easy but it must be done. Don’t wait until you are in trouble and then start frantically looking for marriage tips on how to handle finances. Some things that you should discuss are budgets, assets, debts, bills and financial goals.

Are you saving enough?

Whether you are living month-to-month with little money to spare or comfortable, make a decision to save at least 10% of your income every month. This ensures that you have an emergency fund in case something unexpected happens. It is also a great way to save for retirement.

Are you keeping financial secrets from your spouse?

You have to be completely honest with your husband or wife about your spending. You can’t afford to hide debt or receipts of unplanned purchases from him or her because such secrets can destroy marriages.

These tips may not make you immune to fighting over money, but they’ll help you resolve such conflict much faster.