There’s an old saying that life doesn’t always go according to plan. Business certainly doesn’t. You can have your goals written down, your budget prepared and a pretty good idea of where you want the business to be in 12 months, five years or even ten years. Then it doesn’t rain. Prices move. Interest rates…
Running a farm business or any small business means there will always be something that needs doing. The problem isn’t always that we don’t have enough time. Sometimes, we simply haven’t decided what deserves our time. Every time you say yes to something, you’re potentially saying no to something else that matters. That might be…
For many farming families, it is now a period where harvest is still demanding attention while thoughts are already turning to pre-seeding maintenance and what lies ahead. It’s a season that rarely allows for a clean break, instead, it asks for balance, foresight, and good preparation. While harvest often takes centre stage, these weeks are…
November is one of the most valuable months for planning. It sits at that sweet spot between the wrap-up of the current year and the rush of Christmas. It’s time to take stock and to look at what worked well, what didn’t, and what needs to shift before another year begins. For farming families and…
The cost-of-living crisis isn’t just a city problem, it’s biting harder in the bush. According to the latest Mood of the Bush survey, two out of five regional residents are struggling to make ends meet, and barely one in ten feel comfortable with their finances. In regional South Australia, 72% said reducing household bills and…
Farming families have circumstances that are different from those of non-farmers. Understanding and meeting these requirements is the basis of preparing a personal insurance approach that’s right for you. In this article we consider insurance in the context of farming circumstances which includes how insurance can keep your farm working when you can’t, and how…
With multiple demands on limited resources, managing personal and business finances for farming families is always a balancing act. When you have debt or equipment that needs to be replaced, how do you prioritise putting any excess funds away into super? But if you want to reap the rewards of your hard work and have…
In July, the Royal Commission into Banking shone the spotlight on the financial and emotional devastation faced by farming families affected by bank foreclosures. For me, the hearings of the Commission highlighted what I believe is a lack of understanding about farming businesses and the unique needs associated with securing finance for farming operations or…
While we are on the topic of retirement, it is worth considering these interesting and sometimes surprising facts about retirement. The pension age is set to rise. By 2035, you’ll need to be 70 before you can qualify for the Age Pension.[1] What does Australia’s ageing population mean for your retirement? In the next 20…