Budgeting is a cornerstone for any successful business and allows farmers to gain control over all spending decisions.
To help guide you historical and forecast financial data may be found in the DairyNZ Economic Survey.
Benchmarking data may be found by joining DairyBase. Track your individual farm performance over time or against others in the industry and use this information to help forecast future budgets.
Take advantage of the rural professionals who support your business - rural bankers, farm consultants, accountants, veterinarians and company representatives (e.g. fertiliser reps). Having a good team around you providing you with information about the current farming situation is invaluable for your business.
Annual Cash Budgets
An annual cash budget details cash received and cash expenses going out. It indicates if the business is sustainable and estimates any cash surplus or deficit for the season.
Monthly Cashflow Budget
A cashflow budget outlines your monthly financial situation. It estimates, on a month-by-month basis, what income you expect and what you anticipate spending.
A personal cash budget is for anyone who wants to know where their money is going.
A balance sheet is for anyone who wants to clearly understand their financial position.
Opportunity Calculators - Sharemilking
Are you considering a variable order sharemilking position? Or trying to figure out how much money you will need to get into a herdowning job? These handy calculators have been developed to help you assess these opportunities.
Partial budgeting is a simple planning tool used to estimate the financial gain or loss by changing some aspect of the business or making a 'partial' change to the farm system. Download and complete your own partial budget here.