Farming is unpredictable.
Drought, market fluctuations, family emergencies—unexpected events can disrupt everything. The real challenge isn’t just surviving these moments but being prepared before they happen.
At Financial Services South Australia (FSSA), we’ve seen firsthand how unexpected events impact farming families.
We’ve also lived it.
A few years ago, my wife and business partner, Rosalie, was diagnosed with early-stage breast cancer. Overnight, our priorities shifted. Managing medical appointments and treatment became our focus. Because we had a contingency plan, we kept our business running and avoided financial stress.
That experience reinforced what we always tell our clients—hope for the best, but plan for the worst.
No one likes to think about worst-case scenarios, but whether it’s a health crisis, family emergency, or business disruption, a plan ensures you can act fast and focus on what really matters.
Why Every Farm Needs a Contingency Plan
Farming success doesn’t happen in a straight line. Your income is seasonal and can be impacted by factors outside your control. A single unexpected event can derail your operation if you’re not prepared.
- Financial Stability – Emergency funds cover medical bills, travel costs, or lost income.
- Business Continuity – If you need to step away, a plan ensures the farm keeps running.
- Less Stress in a Crisis – Decision-making is harder under pressure. A plan removes uncertainty.
Just like you prepare for drought, you need a plan for personal and business emergencies.
Key Steps to a Practical Contingency Plan
A good contingency plan doesn’t predict the future—it ensures you’re prepared for any situation.
1. Business Continuity – Who Keeps Things Running?
- If you had to step away, who takes over?
- What critical tasks need to continue?
- Can you manage some operations remotely?
Trusted business relationships—stock agents, agronomists, or financial advisers—are essential. Ensure they know your plan and can step in if needed.
2. Emergency Funds – Cash Reserves for the Unexpected
Unexpected expenses arise, even with insurance. Emergency funds might cover:
- Medical travel and accommodation
- Temporary staff or contractors
- Urgent family support
Some medical treatments leave patients with out-of-pocket expenses exceeding $20,000. Having quick access to funds reduces stress and keeps you in control.
3. Insurance – Do You Have the Right Cover?
Insurance is easy to overlook—until you need it. Have you reviewed your policies recently?
Essential cover includes:
- Income Protection – Replaces lost income if you’re unable to work.
- Trauma Insurance – Provides a lump sum for major medical events.
- Total and Permanent Disability (TPD) Insurance – Covers financial needs if you can’t return to work.
- Private Health Insurance – Speeds up access to medical treatment.
The right insurance lets you focus on recovery, not finances.
4. A Simple Contact List – Who Do You Call First?
Having the right contact information saves valuable time. Your list should include:
- Key business contacts (stock agents, financial advisers, agronomists)
- Family and emergency contacts
- Medical professionals and insurance providers
Planning Makes a Difference
When Rosalie was diagnosed, our contingency plan gave us one less thing to worry about. We didn’t have to scramble for money, figure out business operations, or make last-minute decisions. The systems we put in place worked, allowing us to focus on what mattered most.
You never know when you’ll need a contingency plan—but when you do, you’ll be glad you have one.
How Dibbo Can Help
If you don’t have a contingency plan—or haven’t reviewed yours in years—now is the time. You won’t have time to think in a crisis; your plan needs to be ready in advance.
At FSSA, we help farming families:
- Create business continuity plans so the farm runs without you
- Review insurance policies to ensure you have the right cover
- Set up emergency fund strategies for unexpected costs
If you need help mapping out your priorities and ensuring your business can run smoothly in any situation, give Dibbo a call today. Let’s put a plan in place so you’re prepared for whatever comes your way.
Please contact us directly at 08 8253 2906 or info@financialservicessa.com.au.
