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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.

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The Challenges…

 

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
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