Farm and Ranch Family Living Expenses--Taking Control

Most farm and ranch families have irregularities in income, either in amount and/or timing of income. With few exceptions, income varies from year to year and is usually received following harvest or the sale of livestock at prices often different than expected. To establish better control of living expenses, farm and ranch families are encouraged to have open communication, set goals, develop and use a cash flow plan or budget, and keep records to separate family living expenses from those of the business.