Get in financial shape with our July Money Fit calendar

A recent survey by MoneySense found that couples fight more about money than any other topic. The top complaint about spouses? Too much frivolous spending.

There are some key things you can do to stop money fights in their tracks. Before you get engaged—and then throughout the marriage—talk to each other often about key issues such as dealing with debt, saving versus spending, as well as how you’re going to afford kids if they’re part of the plan. And while both partners need to understand the family finances, it’s most effective to have one person who will take charge in making financial decisions. Someone needs to track expenses, pay the bills and stay on top of investments.

There’s no one-size-fits-all approach when it comes to combining bank accounts and credit cards. The trick is to be open and honest. As long as your plan works for both of you, you’ll be better in the long run, especially come retirement, explains Ask MoneySense columnist Bruce Sellery on Cityline.

With a second marriage, spouses are often more financially independent than ever before so combining the finances can be more complicated. Here are some key tips to managing your finances as a couple—the second time around.

Miranda and Jake both brought significant assets into their relationship, and now the couple is struggling to combine accounts and stay financially independent. It’s time for them to stop acting like roommates.

In any happy relationship, you need to talk about money as a couple and set some short and long-term goals. Here’s how to do it.

In any happy relationship, you need to talk about money as a couple and set some short and long-term goals. Here’s how to do it.

Spousal RRSPs are ideal for couples with unbalanced incomes. They can save couples a lot of money, although they are less important than they used to be. The idea is to equalize the incomes of the spouses as much as possible to reduce your tax bill. It works because you pay far more tax on a single $100,000 income than you do on two $50,000 incomes.

The best way to use them is for the higher earning spouse to contribute to a spousal RRSP in his or her partner’s name. These contributions will use up some of that person’s contribution room, but when the RRSPs are wound up, you’ll have two smaller incomes instead of one big income, saving you big on taxes.

Most couples want to protect the money they’ve accumulated over a lifetime and ensure that their kids are in line to inherit it smoothly. Here’s what you need to do.