New Templates Make Budgeting Simple

New templates make budgeting simple

DairyNZ has launched simple budget templates for dairy farmers facing the current tight cashflow conditions.

“Comment following the recent successful Tight Management for Tight Times seminars was that farmers are looking to take control of their financial situation and develop a robust budget that will guide them through these challenging times,” says DairyNZ developer and business specialist Lynaire Ryan.

“This need not be a complicated process. Preparing a simple budget with the DairyNZ budget templates is the first step in taking ownership and control of the financial situation on your farm.”

The DairyNZ budget templates include: -Annual Cash Budget -Monthly Cashflow Budget - This is a simple version, more detailed versions are available from your bank, or programmes such as Cash Manager Rural -Quick Cash Budget - The same as annual budget but without the detailed Farm Working Expenses Personal Cash Budget

Lynaire says that there are significant numbers of farmers who do not budget. “In the past everyone used to have a simple paper budget. The move to computers has complicated matters, so while those who are good on computers get even better at budgeting, those who aren’t comfortable with that technology leave the responsibility to others or don’t do it at all.

“Every dairy farmer should know their true financial situation so take the time to complete a budget. You can get started by completing an annual cash budget by hand.

“Knowing your true position will help you make factual and realistic decisions, rather than be consumed by worry.”

To download the DairyNZ budget tools and follow the step by step guide visit the DairyNZ website: www.dairynz.co.nz/budget

ENDS

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