As many as one in seven couples admit they have never discussed their finances with each other, a British study found. The reason? Fears of sparking an argument and awkwardness, according to the researchers.

But it is crucial to sit down with your partner and talk money on a regular basis, say experts. The purpose is to check in with your other half to ensure you're on the same page financially, so you can plan for the future together and avoid money conflicts down the road.

To make "money talk" more fun, try scheduling weekly financial date nights with your man. Dates can be as low key as a pillow talk session before bedtime or a hot dinner date to a quiet restaurant. Here are some tips on how to discuss money with your spouse:

Be a team

Be 100 percent honest to each other about your income, expenses, and bank statements -- only then will you know where you stand. Use this information as a starting point to plan your finances and respect each other as equal partners with equal say in money management -- the size of your paycheck should never determine your responsibility in the family finances.

Track your spending

Knowing where your money is going is the key to keeping your financials in order. Sit down with your guy to work out your monthly expenses including mortgage, utilities, groceries, transportation and debt payments and draw out a budget together.

Set a trigger number

This is the amount that a couple feels they need to consult their other half about before spending. Agree on a limit number with your guy that suits your budget.

Compare your wish lists

Write down the top three big-ticket purchases you want to afford this year -- whether it's your dream vacation, a new car or home makeover. Then, compare your lists and choose one item you'll work toward together, and plan how you can save up for it.