In marriage, you join your hearts and hopes…but what about your bank accounts? How to merge and manage your money is a talk that many couples avoid. That’s no surprise, say financial experts. Think of all the potential flash points: different incomes, different spending habits, different priorities, and maybe even different financial goals.

Here’s what you need to remember:

• Each of the account options listed below offers benefits and disadvantages. It’s not a matter of right or wrong but what works for you.
• Second, each option requires a conversation—not a few minutes stolen while doing the dishes but a sit-down talk. “People spend more time discussing the options for their cable subscription than they do deciding on their finances,” says Jon Billings, a financial counsellor in Winnipeg.
• Finally, whatever you decide with your finances is not set in stone, points out Valerie Chatain-White, a CFP Winnipeg financial planner. It’s a good idea to revisit your account arrangements throughout your marriage, as your income and expenses change, as you reach certain milestones (having children, buying a home) and as your goals evolve (saving for education or retirement).

So what do you need to know to decide on the best arrangement for you right now? Click through for some tips from the financial professionals.