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Get Farm Financially Fit - Benefits

Benefits from Better Farm Financial Management

  • The farm – I will plan the changes to my farm and my farming system
  • Infrastructure - I decide when new or additional infrastructure and facilities is put in place
  • Costs – I will know my cost base and be able to identify savings
  • Banks – I can use my plan to help deal with my bank
  • Schemes – Maximise income from farm programmes
  • Cash – I know that I will have enough cash to keep farm, family and repayments met while putting my plan in placeWhy am I farming?

Affected by Price Fall or Bad Weather Events

  • Knowing where cash flow comes under pressure.
  • I will be able to review and prioritise spending so that current spending can be focused on those expenses that provide an immediate rather than a long-term return.
  • Identify areas where costs can be trimmed

Making Investment Decisions

  • Costs for Investment – I know in advance the cost of putting your plan in place
  • Extra income from Investment – I know what extra income will be generated
  • Labour – I know in advance what extra labour will be required.

Low Incomes

  • Identify household cost savings
  • Identify alternative income generation opportunities