July 2012 - Be More Successful in Farming

Following the payout forecast from Fonterra did you realise on a 100,000 kg of milk solids your payout income from 2011 to this season will drop by $187,000. In view of this we held two presentations with National Bank in July 2012 to discuss what farmers could do to help them be moe successful.

  • Have an up to date budget
  • Have a no surprise cashflow plan
  • Control your expenses
  • Ways to help your bank to help you
  • Looks at ways to increase your income
  • Proactive tax planning to minimise payments to IRD
  • Think through decision making implications with a range of advisors

Presentation slides  

Fonterra forecast - how this affects cashflow

Checklist of things to consider to generate income and reduce expenses

Example of annual budget

Example of a monthly budget

ACC checklist

 

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