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Holly Cook is online editor for Morningstar UK and Hemscott, a Morningstar company.

If you are considering co-habiting or marriage (or even marriage to a future king), there's probably a lot on your mind. Sitting down to discuss money issues may not be at the top of your list, but it's one of the most important tasks to tackle if you're starting a life with someone.

These days, couples are inundated with cautionary tales and divorce statistics warning of financial disputes - not exactly what you want to hear. It's true that money matters are complicated and have long been one of the top reasons why couples fight and split up. But discussing issues up front and getting your finances in order from the outset can help keep money from putting a dampener on your relationship.

Tackling your finances as a couple starts with assessing your situation. Do you two share the same financial attitudes, habits, and goals? Day-to-day questions such as whether you will share accounts, who will pay the bills, and how you will budget money together are important to discuss, but a candid conversation is the essential starting point.

Start the dialogue

Regularly discussing your financial goals and current standing is a good habit to start now, if you haven't already. What shared and unshared goals do you have? What type of lifestyle do you want? Do either of you have student loans or outstanding credit card debt? How do you each feel about it? Get any financial anxieties out in the open sooner rather than later.

Discuss upcoming financial plans, such as whether you will buy a house or if one of you is considering returning to education. Do you expect any major financial changes?

Ideally, these conversations should begin before you pick up the keys to your new apartment or tie the knot. But if you've already taken this step, there's no better time to start the conversation than now.

Take inventory

Once the two of you are on the same page, the next step is to map out your combined earnings, assets, and debts. Include your income, investments, credit card debt, and student loans. Also include any mortgages, car loans, and any other amounts you own or owe. Make a master list of each of your current savings and investment accounts so you both know where everything is.

Listing all of your assets and liabilities together will highlight any problem areas and help you see the big picture. Do you have two cars when you could get by with one? Do you have more combined debt than you realised? Once you know what you're dealing with, you can discuss how you will approach and prioritise complex issues - such as paying off credit cards or investing for retirement - together.