Get Farm Financially Fit
Having a good feel for the farm finances and what is happening on a farm or farm household is critical. This applies whether a farmer is currently expanding or thinking of expansion or whether they just want to consolidate what they have and ensure that they are in a good position to deal with whatever the business of farming throws at them.
- Managing Risk and Volatility in Day to Day Farm Business
- Planning for the Future and Making Investments
- Increasing Farm Household Incomes
Get Farm Financially Fit Booklet (.pdf, 2.6mb)
The starting point….
- Develop an understanding of the importance of having a detailed knowledge of what makes the farm and family finances tick.
- Building up the capacity to make sense of financial statements and use them for decision making on the farm and in the household
- Establish good system to manage the paperwork – receipts/ invoices/ statements
- A farm office with a good filing system assists greatly in keeping on top of farm and household finances
- Enlist help from family members, whose computer skills might be better, to deal with the keeping of records/ researching better deals for services