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northeastern Ohio | Welcome to Agtalk!
I have no idea what state you are in, but Ohio State extension offers a program to help you put your numbers together: https://farmprofitability.osu.edu/
Other state extension programs probably have something similar.
I know that some spouses don't like the other spouse to get involved in the farm finances because they fear being judged on their financial decisions, which can lead to hostility in the marriage. But like a marriage, it is about compromise, and both partners need to feel financially secure and that the other partner is not going to go bankrupt, taking them down with them.
This goes both ways. If you question his spending, then your spending could also be questioned. You need to work together. Figuring out the profitability and putting it on paper will benefit the farm IF you ever need to get a loan. Most banks want to see a balance sheet.
One of you needs to take charge and get it done. He may feel that he doesn't have the time because he is already working 2 jobs. In that case, you need to tell him why you want to become the bookkeeper for the operation. You need the security of knowing the finances for the sake of you and your family, and he will need the balance sheet to show the bank when he goes full time farming. Put you foot down and make it happen. | |
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Farm wife talking. Please help me understand
