A 20-minute family money meeting
Check the bills, plan for the costs that sneak up on you, and agree on one next step. A monthly agenda with a free worksheet for Canadian households.
Daycare, groceries and the next school expense can fill the conversation before you get to saving for anything else. Set aside 20 minutes to check what’s coming, choose one money task and decide who will do it.
Use this agenda with a partner, or work through it yourself if you manage the household money. You can keep separate accounts. Agree which costs each person covers and when the money needs to be there. FCAC describes several ways couples can share financial responsibilities.
Bring one sheet to the conversation
Print the PDF, or open the plain-text worksheet and copy it into your own notes. Both are free, with no signup. Keep your completed copy on paper or your device. Account numbers and passwords don’t belong on it.
Have your calendar, upcoming bills and recent account statements ready. If you haven’t made a household budget yet, allow a longer first session. FCAC’s budget guide can help you gather the numbers. The 20-minute agenda below is a suggested routine, not a deadline for solving everything.
The 20-minute agenda
| Minutes | Talk about | Write down |
|---|---|---|
| 0–2 | What changed? Each person names one concern and something they want money to make possible. | The issue you want to settle today. |
| 2–7 | Will the next 30 days work? Check income dates, bills, everyday costs and minimum debt payments. | Any timing gap and the bill buffer you need to leave untouched. |
| 7–12 | What is coming later? Look ahead three months, then check your annual bills. | An irregular cost, its due date and what you need to set aside this month. |
| 12–17 | What should the next dollar do? If there is no surplus, focus on the shortfall. | One priority or one action that could help close the gap. |
| 17–20 | Who will do it? Give the task an owner and a date. Check it at your next meeting. | Who, what, by when, and the next meeting date. |
Count each dollar once
Start with cash available for this month’s bills and decisions. Include the bill buffer already sitting in that account, but leave out savings earmarked for emergencies, annual bills or other goals. Add the income you expect to receive, then subtract the costs due and the buffer you want to leave untouched. For a bill paid from existing earmarked savings, include only the amount those savings do not cover.
That buffer is breathing room for payment timing. There’s no fixed amount that fits every family. Check the dates as well as the total: a bill may be due before the paycheque that covers it arrives. A credit limit is not income.
If groceries are already included in a card payment listed on the sheet, don’t count those same purchases again as living costs. Set aside money for new card purchases whose payment falls after the 30-day window, so it doesn’t look available for another goal.
For an irregular cost, subtract what you’ve already saved from the total due. Divide the gap by the paydays left before the payment. Include this month’s set-aside once when working out what remains for another goal. If a cost is already in your 30-day bills, don’t subtract it again. FCAC’s budgeting guidance also covers spreading known irregular expenses over time.
A month with no surplus still has a next step
If the numbers don’t cover what’s due, make that the task. Check the dates, look for an expense you can change, or contact the provider about a payment you may miss. You don’t have to make an investment or transfer to finish the meeting.
When there is money left, possible jobs include an emergency reserve, an extra debt payment or a dated family goal. Paying for time together or making a planned donation can be a goal too. Write down an amount and a date, as FCAC’s goal-setting guide suggests.
For debt decisions, list rates and required payments. FCAC says to keep minimum payments going on all debts and consider past-due accounts first. Putting extra payments towards the highest interest rate generally reduces interest costs. Its debt repayment guide explains the tradeoffs.
One decision, written down
Hypothetical example: a family has $600 left after planned essentials, minimum debt payments and their bill buffer. A $240 activity payment is due on November 30, with $120 already saved. They reserve the remaining $120 now. That leaves $480 for their next decision. These are example amounts, not recommended targets.
Their task is specific: move $120 into the activity reserve by Friday, with one person responsible. The next meeting starts by checking that it happened.
If you disagree about a decision, pause it. Write down what each person needs to understand and book a time to return to it. Keep already agreed essential payments on schedule.
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