How to Make and Use a Farm Financial Budget

A farm business without a budget is like a car without a steering wheel. Having a farm budget can help you understand your strengths and weaknesses and make good decisions. But it can also help you qualify for a loan, assess whether or not you can afford a new tractor implement, or pay off your debt, and answer other questions that help sustain your farm business. Farm resilience, your focus on economic viability, and essential annual planning can all improve with a budget. Learn how to construct an annual budget, create a cash flow plan, keep track of income and expenses, and use your budget to celebrate your success and improve your business performance in the next season. A budget template is included for all participants.