Ben­e­fits of a bud­get for your farm

Matamata Chronicle - - Rural Delivery -

A bud­get helps you gain con­trol of your fi­nances and gives you the tools needed to project fu­ture cash­flow and helps man­age your as­sets and li­a­bil­i­ties. By hav­ing a bud­get you and the bank can plan to make sure your over­draft fa­cil­ity is ad­e­quate.

It’s a good idea to have sep­a­rate feed and fer­tiliser bud­gets.

Feed costs in­creased across the board last year and fer­tiliser costs went up by 16 per cent. These ex­penses need man­ag­ing.

Also make sure your bud­get al­lows for your per­sonal draw­ings. Again it’s a good idea to have a sep­a­rate bud­get for your per­sonal spend­ing.

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