Building a farm, business budget – where to start | Columns

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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