1. Check In! 5 minutes
Take a moment to unload your day and let yourself or your significant other know what mood you are in, and why. Let it all go in a big breath, and then get ready to begin.
2. Income (Yeah!) and Expenses (!) — 20 minutes
2.1 Go over income for the month, including any unexpected income, small or large.
2.2 Next go over expenses for the month, including any unexpected costs or costs that were anticipated but put off.
2.3 Discuss what to do with extra income, or what to do with unexpected costs.
2.4 Discuss any changes to the household budget that may be required.
These two items can be in as much detail as you wish or in order of magnitude. Use your family budget as a guide.
3. Balance Sheet Stuff (!) — 20 minutes
3.1 Detail and discuss value of assets (i.e., things you own and can sell for cash), reset value as needed.
3.2 Detail and discuss liabilities (things you owe!), reset liability cost as needed.
3.3 Review investment portfolio, discuss allocation and holdings, decide on changes if necessary.
3.4 Discuss savings, retirement, debt reduction goals.
4. Financial Planning and Management — 10 minutes
4.1 Identify and discuss any outstanding planning or management tasks that need to be done.
4.2 Review financial management responsibilities, and redistribute if necessary.
4.3 Review new documentation process, passwords, etc.
5. Other financial issues…. (e.g., insurance, will and testament, etc.)