Before you get married, or soon after, it pays to have a heart-to-heart about finances.

In just about any long-term relationship, finances will come into play. And in a marriage, managing finances well is essential. Whether you're about to get married or have already tied the knot, it's a good idea to sit down with your partner and discuss money.

With finances, as with many things in life, an ounce of prevention is worth a pound of cure. If you and your partner approach your finances in a direct, matter-of-fact way early in the marriage, you'll provide a solid foundation for your relationship, and for your finances, as time goes on.

Financial Talking Points

When you sit down with your fiancé or spouse, begin by sharing the current state of your finances. It's important to be frank and nonjudgmental. Fudging the numbers or concealing certain items from your partner could result in serious problems later. What's important is making sure your plan for going forward is one to which you are both committed. Here are some basics to go over:

• what's important to each of you when it comes to finances
• how you will manage your assets (what to combine, what to keep separate)
• will you use the same bank account? credit cards?
• how you will deal with differences in income
• how you will manage the payment of expenses
• what to do if your fiancé or spouse has incurred a lot of debt.

Planning for the Future

In your discussion of finances, it's worth discussing future costs, even if you can't know exactly what these will be. Do you plan on buying a house together? Have children? Go on a trip around the world? Move from one city to another? All of these things require significant financial resources. Be sure to discuss the following:

• financial goals are you working toward
• new furniture or toys you will purchase together and own in common
• how to save up to buy a house
• how to plan for having children
• how to fund retirement plans
• any other plans do you want to put in place for the future that require resources.