Two‑Account Budget Checklist

Before you start

Pay cadence

Chequing fee‑waiver minimum ($)

Your chequing cushion target ($)

Step 1 — Pick your lanes

Account A (chequing) = deposits + bills + taps Account B (savings) = emergency + short‑term goals Rename them so it’s obvious (e.g., “Spend/Bills” and “Savings”).

Step 2 — Choose two numbers

Chequing cushion (don’t dip below):

Keep this at or above your bank’s minimum balance to avoid monthly fees. Anything above your cushion can sit in savings to earn interest.

Savings rule (every payday):

If income varies, start small—momentum beats ambition.

Step 3 — Look ahead 8–12 weeks

List rent, utilities, subscriptions, transit, insurance renewals, and travel you already know. Watch for weeks where chequing dips below cushion.

Week	Income	Bills/Events	Projected end‑of‑week chequing
1
2
3
4

Step 4 — Fix timing

Move a bill date toward payday (script below). Trim a variable category by $25–$100 for one week. Delay a non‑essential to the week after payday.

Script: move a bill date

“Hi, I’m aligning my due dates to my pay cycle. Can we shift my due date to within 3–5 days after payday? If not, the closest date works. I want to keep payments on time.”

Step 5 — Automate (or remind)

Automate savings transfer on payday, or add a calendar reminder. Optional: keep savings at a different bank or label it “Do‑Not‑Touch — Future Me.”

Step 6 — Variable‑income tweak

Set a monthly base pay ≈ 3‑mo average − 10%. Over base goes to savings first; do a month‑end reset.

If chequing > cushion: sweep excess to savings.
If chequing < cushion: top up; adjust next month’s base or trims.

Step 7 — Annual “lifestyle bills” (month‑of transfers)

These aren’t emergencies—just part of life. Note due months and move money from savings to chequing that month.

Item	Due month	Amount	Notes
Insurance
Gifts/Holidays
Car costs
Prime/Services

Step 8 — Weekly 10‑minute check

Glance at next 2–4 weeks for dips. If a dip appears, apply one timing fix + one tiny trim. Celebrate a small win.

Quick answers

Overdraft anyway? Top up cushion, find the clash that caused it, make one fix this week.

How big should cushion be? Big enough to avoid both overdrafts and dropping below your bank’s fee‑waiver minimum—but not so big that excess sits in chequing earning $0. Move extra to savings for interest.

Educational only—not individualized financial advice. Verify fees, rates, and provider policies.