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One of the important problems that married couples face in their households is managing their finances. Most of them have no idea whether to handle their earnings themselves or merge it with their partner's income.

Some couples prefer having separate bank accounts since they believe money matters spoil the harmony of their relationships. If each of them has control over a certain portion of the funds, they believe there are fewer chances of silly fights that might even split them up.

On the contrary, some people think the well-being of the family as a whole should be put before everything and maintaining separate bank accounts could pave the way for selfishness. Those that believe in this concept tend to combine their family's assets and liabilities as well as merge their bank accounts.

While no one idea or suggestion is applicable to all the married couples there are certainly few recommendations that people should consider in handling their finances.

Firstly, understand what your partner is interested in, whether combined or individual management of finances. You are landing yourself in trouble if you insist on the one your partner is disinterested in.

"You should have some autonomy money, I should have some autonomy money, and we need to learn how to practice being a couple together with our money," says Ruth Hayden, author of "For Richer, Not Poorer: The Money Book for Couples," according to KeyBank.

Hayden also added that when it comes to spending money in marriage life both men and women spend around the same amount of money but for different purposes. Women spend in shopping groceries, clothes and bills and men spend for buying, cars and gadgets, however, both the expenses are made to meet their families' needs.

"Couples who pool their resources learn to compromise on simple issues like who pays the bills and balances the checkbook, so that they can agree on more complex ideas like budgeting, entertainment spending, and retirement savings," writes Holly Johnson in "No: Combining Accounts Helps Build Trust and Teamwork," reported The Wall Street Journal. "And when issues pop up, as they always do, couples with combined finances tackle them together."

However, Hayden noted that couple should try different things about their finance and then settle into an appropriate money management policy.