Budgeting is purposefully reviewing and estimating our costs, income and overall cash operations for your farm or your business. If you’re new to budgets, January is a great time to begin the process.
We frequently reference a whole or partial budget. A whole budget considers the whole farm including every single income item to every single expense to loan or check that’s moving through the business. Conversely, a partial budget examines a specific area instead of the whole operation. As an example, you might want to explore your crop area instead of your livestock area in a partial budget.
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Sarah Klinefelter is a loan officer with AgChoice Farm Credit. AgChoice Farm Credit specializes in providing farm and country property loans and financial services to help our Adams and York county customers confidently reach their dreams. To learn more about AgChoice and our 105 years of experience, contact us at 717-792-2641 or visit AgChoice.com.