Budgeting is a cornerstone for any successful business and allows farmers to gain control over all spending decisions.
DairyNZ has developed simple budget templates and guides. You can print these budgets off and work through them by hand or download and use the spreadsheet version.
Putting together a budget may seem like a daunting task the first time, especially if you are new to dairy farming and do not have information from previous seasons 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.