finances Archives - Page 4 of 7

People who use credit cards typically spend 34 per cent more.

Froese: Decreasing your money woes by tracking personal expenses

What you think you are spending is very likely much lower than the real number

By Elaine Froese August 26, 2021

A wise person once said you can have more money over a long time if you make more than you spend or spend less than you make. The roller-coaster of grain prices has pinched many farm folks who are saying, “I shoulda… ” What you can do is keep better track of what you are […] Read more

Columns

Environmental, social and governance investing

Is it another new fad?

By Herman VanGenderen May 10, 2021

Business and investing fads come and go, much like other aspects of life. Those with merit last longer than others, while many fall into the trash bin of overhyped and bad ideas. Two decades ago, Six Sigma became a highly touted business concept, designed to reduce defect rates to less than 0.0003 per cent. I […] Read more

In this farm couple's case, there are two alternative strategies to cut taxes.

Columns

A couple looks for a low-tax route to turn their farm into retirement income

With no kids who want to take on the farm, a low-tax exit strategy is needed

By Andrew Allentuck April 16, 2021

A couple we’ll call Chuck, 68, and Liz, 66, farm 1,000 acres in south-central Manitoba. Their all-grain operation is profitable, but they want out. Their children, two middle-aged daughters, are not interested in farming. That leaves the sale of the farm as the best and only way for the couple to quit the business and […] Read more

Financial issues consistently cause the most stress for Canadians, but it doesn’t always have to be that way.

Features

A step-by-step guide to get control of your farm finances

Understand the 4E money strategy and the nine key drivers that affect financial wellness

By Madeleine Baerg February 18, 2021

According to surveys completed by FP Canada in 2014, 2018 and 2020, one factor consistently causes the most stress for the most Canadians. As you can probably guess, that factor is money, outranking other top stress factors like personal health, work and relationships by wide margins. Why it matters: The most important financial decisions are […] Read more

Columns

Intend to pass on your farm? There’s still time to plan and avoid large taxes

A farmer discovers a huge tax liability as he plans to transfer the farm to his nephew

By Andrew Allentuck February 17, 2021

In central Manitoba, a man we’ll call Harry, 81, has retired from a former life actively farming what was four quarters of grain. As Harry’s end of life comes into view, he wants to ensure that his sole heir, a nephew we’ll call Sam, does not wind up with a farm reduced or impoverished by […] Read more

Columns, Features

The dangers of cheap money

Interest rates at historical lows could pose future problems for farmers

By Andrew Allentuck February 16, 2021

For farmers burdened with heavy debts, historically low interest rates can seem to be salvation. Lower payments for equipment, for land loans, for bills past due — it’s life support for financially squeezed farms and, for that matter, for most other kinds of business other than banks and other lenders, which can’t get much profit […] Read more

Farm Credit Canada’s chief agricultural economist doesn’t see the Canadian dollar ending the year very strong, a positive for margins where livestock and crops are concerned.

Editor's column, Wheat & Chaff

Editor’s Column: Our lines of defence during the COVID-19 pandemic

By Kari Belanger October 14, 2020

As we settle into fall, the reality of living with the COVID-19 pandemic long term is hitting home for all of us. The pandemic has changed how we work, how we connect and even how we celebrate a festive event or grieve a loss. We are having to adapt. Many of us are searching for […] Read more

Columns

Seven strategies of successful farms

Focusing on costs, risks, and your farm’s budget and financial plan

By Brian Wittal March 12, 2020

I’ve been discussing the top seven practices of successful farm management. In this article, let’s focus on the last three. No. 5 on the list is knowing your cost of production. I break costs of production out into three components: direct, variable and fixed costs. Direct costs are those expenses that have a direct impact […] Read more

Columns

The Sky is not falling, Part 2

Free markets are best equipped to find solutions to global problems 

By Herman VanGenderen January 27, 2020

Developed economies operate under a democratic, capitalist, free-market system. Developing countries often have socialist, autocratic, controlled-market systems — although many are becoming freer. It seems obvious to me which system is superior, yet the continuing tug on free-market economies is towards socialism, because “profit” is considered a dirty word implying that one party took advantage […] Read more

Features, News

Is your farm doing cash, accrual, or no budgeting?

Farm Management: Budget planning hasn’t kept pace with today’s farm value, size, or complexity

By Craig Macfie January 15, 2020

Our firm, Stark & Marsh, uses benchmarking as a tool to compare farm financial performance. The average southwest Saskatchewan incorporated farm we benchmark is 4,000 acres. Between inputs, machinery and land, costs can meet and exceed $300/acre. Costs of $300/acre multiplied by 4,000 acres equals an annual expense budget of $1.2 million dollars. This number […] Read more

GFM Network News

China imports no US soybeans for third month; Argentine arrivals up 634 per cent

USDA confirms bird flu case in Wisconsin dairy herd as new wildlife spillover

Prairie Wheat Weekly: Modest increases for cash prices

Tag Archives finances

Froese: Decreasing your money woes by tracking personal expenses

Environmental, social and governance investing

A couple looks for a low-tax route to turn their farm into retirement income

A step-by-step guide to get control of your farm finances

Intend to pass on your farm? There’s still time to plan and avoid large taxes

The dangers of cheap money

Editor’s Column: Our lines of defence during the COVID-19 pandemic

Seven strategies of successful farms

The Sky is not falling, Part 2

Is your farm doing cash, accrual, or no budgeting?

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