How much do you pay yourselves (farmers)

[grumpy]

Far too many farmers have no real idea of what any of their real business costs are. So I'd take what they say about their earnings with a big pinch of salt.

What I think many farmers are unaware of is the value of their lifestyle. Just ask many people what they would like in life. A big house in the countryside, land and buildings to keep a horse if they so wish, a 4wd and a car in the (usually enormous) driveway and the ability to take a day or a few hours out of work whenever it suits would be common wants.

If it's such a shitty life being a farmer why is it that so few give it up, move in to a terrace in town and work in Tesco?

i did,but work on me pals farm,tis great come tea time i feck off home and leave all the stress to him

 

[d williams]

Donald Trump has been bankrupt 4 times I think?

Personally or company's ?

 

[Ashtree]

Thinking of starting another thread to accommodate those sods who work off farm to support the farm!
Am I in a majority of one then??

I spent donkeys years paying into an AVC that moved from zero to something akin to what scientists call the "black hole" in my off farm job.
Then I woke up one day six years ago. Stopped the AVC. Put the equivalent and more besides into the farm.
You know what, after six years of mostly tough beef markets, and a severe fodder crisis, the return on my investment is substantially better than that delivered by those smart "city" pension fund managers.
Plus I can look out the window at nice stock!!

Ash

 

[bobk]

Thinking of starting another thread to accommodate those sods who work off farm to support the farm!
Am I in a majority of one then??

I spent donkeys years paying into an AVC that moved from zero to something akin to what scientists call the "black hole" in my off farm job.
Then I woke up one day six years ago. Stopped the AVC. Put the equivalent and more besides into the farm.
You know what, after six years of mostly tough beef markets, and a severe fodder crisis, the return on my investment is substantially better than that delivered by those smart "city" pension fund managers.
Plus I can look out the window at nice stock!!

Ash

That's the great thing about farming , no pension needed ... just a pile of pallets and a bag of 4 inch nails.

 

[Blod]

I was on a Lantra financial course this week. A farming income of £13,000 is apparently equivalent to approx £25,000 in the real world. This takes into consideration the fact that you get a roof, a vehicle, fuel, insurance, heating, etc. Having said that, £25,000 is not much if you have a family to fund.

 

[cherylA]

Following a conversation with some farming friends today we were talking about money, I'm not one to hide what things cost or what I earn like some folk are, I see money as material matter with no emotion involved.
I told them that I pay myself £500 a month and £100 into savings. Out of the £500 that pays the council tax (£140) food, drink and household stuff. I then said that there's nowt left after a month
They were OUTRAGED that I had £120 a week to spend on myself and that I could spend it!
Anyway, was i talking to 3 dimwits who spend 1000's out of the Farm and just think they only need £20 a week or is this norm?
They wouldn't let on what they paid themselves

 

[cherylA]

pay myself nothing but my OH looks after me and family well

 

[JNP]

It cost me £12000 per year just to rent a house to put over our heads. (Off a farmer) never mind the rest of the bills.

 

[Henarar]

I was on a Lantra financial course this week. A farming income of £13,000 is apparently equivalent to approx £25,000 in the real world. This takes into consideration the fact that you get a roof, a vehicle, fuel, insurance, heating, etc. Having said that, £25,000 is not much if you have a family to fund.

you make it sound like I am taking a decent wage Flower we can't have that you must be wrong

 

[Blod]

£25,000 isn't that great a wage if you think about it. For non farmers, fixed costs of a mortgage or rent (most of us have one or the other), council tax, food, electric, oil/gas, phone, internet, tv license, insurance, car, fuel, clothes, teeth, eyes (reading specs cost me £100!) and so it goes on.

 

[DrWazzock]

Why is money a taboo subject? I receive a total of £10000 per year income from my business which includes all my utility bills, vehicle expenses, council tax etc leaving me with £500 per month cash for food and clothes etc. I manage to save on it and am quite happy with that. My one and only concern with farming is to do the best I can for my crops and stock. As long as I have enough to keep the bank balance stable than that is all that I am concerned about financially.

Money doesn't bring happiness, never did. Achievement brings happiness. Happiest day of my life was seeing a 3000 bird free range chicken shed winched off a heap of manure. I had spent all weekend welding it back together for a mate for nothing after the winching team had broken it in two on the first attempt.

 

[Flossie]

If you wear a uniform and meet the cost buying/washing it yourself then you can claim relief on it. This especially applies to P.E teachers. The same would apply to a shelf stacked or cleaner

Royal Mail gave you an annual payment (£100 or so) to pay for cleaning your uniform

 

[Sussex Martin]

£25,000 isn't that great a wage if you think about it. For non farmers, fixed costs of a mortgage or rent (most of us have one or the other), council tax, food, electric, oil/gas, phone, internet, tv license, insurance, car, fuel, clothes, teeth, eyes (reading specs cost me £100!) and so it goes on.

Don't forget if your 'wage' is £25k you have tax and NI to come off before you receive anything.

 

[cherylA]

Why is money a taboo subject? I receive a total of £10000 per year income from my business which includes all my utility bills, vehicle expenses, council tax etc leaving me with £500 per month cash for food and clothes etc. I manage to save on it and am quite happy with that. My one and only concern with farming is to do the best I can for my crops and stock. As long as I have enough to keep the bank balance stable than that is all that I am concerned about financially.

Money doesn't bring happiness, never did. Achievement brings happiness. Happiest day of my life was seeing a 3000 bird free range chicken shed winched off a heap of manure. I had spent all weekend welding it back together for a mate for nothing after the winching team had broken it in two on the first attempt.

 

[bobk]

I do everything I like doing, if it pays if it doesn't ...I do my next project ... the longer I've been involved in farming the less farming I do.

 

[kneedeep]

I 'earn' a significantly smaller amount than minimum wage per hour.
But to live where I do, and if I had to pay with earned cash for all the stuff 'normal' people have to do to prosper in modern society. Then I'd have to earn significantly more than minimum wage.
Probably in the region of £35k a year.
There again for the hours worked, probably not that far hourly rate

 

[glasshouse]

It's take a lot of gumption to accumulate such wealth. Sometimes a cruel twist of fate can take it away from you but as they were bright enough to do it once, they're likely clever enough to make more again.

Possibly, but they lacked the gumption to realise they were riding a wave that might break one day, they should have got out at the top.

 

[Robw54]

How is council tax a business expense? Countless putting it through the books on here... Business rates yes.

 

[Henarar]

Don't forget if your 'wage' is £25k you have tax and NI to come off before you receive anything.

everyone has to pay tax if you make a profit

 

[hoff135]

how much are people being payed working for the "old man" ? 10 years out of school and im starting to wonder if ive just been used as cheap labour