No matter how well you or your partner manage your money, creating a financial plan is a must for any couple, whether they are newlyweds or in a long-term relationship.

According to the Certified Financial Planner Board Standards, Inc., a non-profit organization dedicated to supporting professional standards for personal financial planning, learning how to manage money together creates trust and diffuses future financial conflicts.

This is a list of tips by the CFP Board to help couples make the most money.

Talk first, then plan. It is never too late to talk about finances if you don’t have the time or space. Have an honest conversation about your assets and debts. Next, set financial goals that you can all agree on. These could include starting a business, saving for a house or paying off student debt.

– Manage together. Benefits of having a shared bank account include easier long-term planning and equal access to funds. However, even if the accounts are not linked, you can create a budget with plans to cover monthly and other expenses.

– Change leases and beneficiaries. Although not every couple chooses to legally share their home, having both the names on your home-ownership documents will make it easier to refinance. You can also modify or create a will to update beneficiaries to ensure that your partner has access to your assets in the event of your death. This covers not only wills but also IRAs (401(k)) plans and insurance policies.

Long-term thinking is key. Talk to your partner about an emergency fund and start one if it isn’t already. Both partners have the option to create an emergency fund to help with unexpected expenses like illness, sudden unemployment, or major home repairs. However, both partners should contribute to retirement accounts through their employer 401(K), or other accounts.

Focus on the short-term. A weekly money date can be used to review finances and make progress toward goals. If there are any issues and the conversation becomes heated, take a step back and talk about the issue when things calm down. Talking about money more often with your partner will make it easier. Making trust and honesty a priority when planning for financial matters will help you in your relationship and your finances.

Visit letsmakeaplan.org for more financial planning tips and guidance and to locate a CERTIFIED FINANCIAL PLANNER™ professional in your area.