financial advice Archives

Five-year financing on new equipment doesn’t care if cash flow and profit are less than they were when you made the purchase.

To debt, or not to debt?

As we head further into 2025, will more debt be essential for a farm’s success?

By April Stewart February 28, 2025

Glacier FarmMedia — There are many pressures on the agriculture industry and its individual businesses. Our farms are expected to do more at every turn. Every sector is feeling the effects of those expectations. And you don’t need to go far to find a farmer who will tell you the cost underpinning all the programs, […] Read more

Columns, Farm Life

Practical strategies to stay financially organized on your farm

Seeds of Encouragement: Managing the farm’s day-to-day is one thing; keeping its books up to date is quite another

By Alyssa Brown, Elaine Froese January 26, 2025

Elaine writes: It’s a new year and time for a fresh start in getting your important farm details in order. Alyssa Brown, CPA, from Olds, Alta., is part of our coaching team. She grew up on the farm and now advises farmers how to make life better. Here’s her encouragement to you at the start […] Read more

Two horses, working in tandem, are stronger than one — and make a great metaphor for spouses in business together, proceeding forward in alignment.

Columns, Farm Life

How to have the conversation about prenups

Whatever the status of your relationship, the farm you share needs clarity

By Elaine Froese April 10, 2024

“So, you want to protect your farm in case of a divorce, understandably so! Can you do that with a prenup? Yes! If it’s valid and enforceable, and you include the right provisions, your farm can stay in your possession, even in the worst-case scenario of a divorce. Prenups can also supplement your estate planning […] Read more

One marker in a farmer’s life should be to set up a succession plan that keeps family bonds intact.

Features

Finding a ‘bridge’ over transition waters

A will or partnership agreement is important, but is not a farm succession plan

By Lee Hart March 6, 2024

Maggie Van Camp understands the challenges as well as the tremendous value of farm succession planning. She’s been on that road a couple of times in her life as a seventh-generation Ontario farmer, as well as a communicator and agricultural consultant. The first time was after the sudden death of her husband in a farming […] Read more

Columns, Crops

Managing risk in a rising interest rate environment

Q & A with an expert

By Carrie Cholak October 16, 2023

Q: What are some strategies I can use to manage risk on my farm? A: Grain growers are concerned about how their profits will be affected by speculation around rising interest rates. Navigating these uncertainties takes a proactive approach to minimize risk, protect yourself against uncertainties and control variables that affect your financial position. Consider […] Read more

Features

Tips to achieve financial harmony with family and lenders

Consider the five C’s of small business lending as an evaluation tool for a loan

By Art Lange May 12, 2023

This past winter, I attended two conferences in Alberta related to farm business management. One was the annual conference of Farm Management Canada (FMC) held in the beautiful Rocky Mountains at Canmore, and the other was the annual Alberta Farm Advisor Update presented by the Canadian Association of Farm Advisors (CAFA), which was held in […] Read more

Having personal wealth spreads your wealth across the farm assets as well as on the personal side.

Farm Life

Froese: Build your personal wealth bubble

Smart investing can reduce your dependence on farm business assets

By Elaine Froese March 3, 2023

Why is it important to have personal investments? I found a good answer to this question online: “Investing is an effective way to put your money to work and potentially build wealth. Smart investing may allow your money to outpace inflation and increase in value. The greater growth potential of investing is primarily due to […] Read more

Having a reasonable cost of money – ie: higher interest rates – often motivates a more judicious use of personal finances.

Columns

Value investing is dead … long live value investing

“Reports of my death have been greatly exaggerated” — Mark Twain

By Herman VanGenderen February 24, 2023

As I was cleaning my desk clutter, I came across a Globe and Mail article titled, “Five reasons why value investing may never regain its appeal.” It appeared Aug. 27, 2019, after a decade in which growth stocks had significantly outperformed value stocks. It isn’t unusual to see these types of headlines just before a […] Read more

On a dollar basis, this plan is clearly unfair, for the non-farming son would appear to be shortchanged.

Columns

Plan a fair and tax-efficient exit strategy for all

How to pass on the operation to farming children while keeping share division fair for non-farmers

By Andrew Allentuck February 1, 2023

A couple we’ll call Bob and Linda, both in their early 60s, have run a successful farming operation in south-central Manitoba. They have 1,280 acres of which two quarters are pasture for 100 head of beef cows and the balance in wheat and barley. After 40 years of farming, they want to plan an exit […] Read more

Hollie Rudy is a
territory manager
with Nutrien
Financial. One of
her tips for farmers
is don’t wait too
long to take
advantage of
incentive programs
for seed and crop
input purchases.

Features, Practical Tips

Five tips for better year-end financial planning

What you can do to maximize profitability and financial sustainability in 2023

By Treena Hein December 8, 2022

December is an excellent time to review your finances and to make sure you are setting up your farm business for the biggest profits possible in 2023. That means taking certain actions and avoiding others. For some farm business strategies, we checked in with Hollie Rudy, a territory manager with Nutrien Financial who also farms […] Read more

Alberta crop conditions improve: report

U.S. grains: Corn sets contract lows on expectations for big US crop

U.S. livestock: Cattle strength continues

GFM Network News