Lyric discussion by S14 

Cover art for Bucket lyrics by Carly Rae Jepsen

This song seems to be about a long-term (probably married) couple. They haven't spent time together for a while, and they're out enjoying an uncharacteristically carefree day on the beach ("Forget yourself say why don't we people watch?")

Though they run into various mishaps ("Nothings really going as planned"), the woman is especially happy to see her man relaxing for a change ("See your laughter bubble over, lately you've been working too hard", "And I've been waiting to recognize that sparkle that's in your eye...")

The man confesses something to the woman ("there's a hole in my bucket"), a problem that he believes will threaten their relationship ("I don't know how we're supposed to build a castle now"). The woman, however, reassures him that no matter what, she'll stay with him ("I'll stay until the sun comes down").

Personally I think the "hole in my bucket" thing might actually refer to sterility, LOL. The guy can't have kids, hence he's worried about how they'll start a family ("build a castle").

Song Meaning