Talking about money

The ability to grow our business depends on the availability of money. It is therefore very important for farming families to be able to think carefully about their financial circumstances. Predicting costs, prices, profit margins and cash flow patterns is vital for planning and decision-making.

Talking About Money aims to introduce financial concepts using a variety of tools, some of which can be used even when people are not able to read or write. It takes a deeper look at the financial management aspects of the farm business where participants will learn and practice new concepts, including:

  • Learn how to prepare cash flow forecasts and plan
  • Be able to separate and manage business and family spending requirements
  • Compare different methods of savings and understand the role of a financial service provider
  • Be able to assess farm profitability
  • Understand the importance of profit to business growth and return on capital invested
  • Learn how to improve the profitability of their business
  • Learn about the finances of machinery ownership
  • Understand the importance of record keeping
  • Understanding risk and insurance