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Farm Business
Agricultural Matters
Overdraft requirements for coming growing season.
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<blockquote data-quote="Phil P" data-source="post: 6745277" data-attributes="member: 33598"><p>I think a lot of the trouble with most people (especially farmers) is if they have funds available they’ll spend it on something (usually shiny machinery). </p><p>We don’t have an overdraft facility, I’m not saying there’s not times of the year when I wish we did but it takes a lot of cash flow management to keep out the red! Trouble is as soon as you dip into that overdraft it can take along time to dig yourself out, so if the money isn’t there you can’t spend it. </p><p>we do fined that business credit cards help smooth out monthly outgoings. They get paid of each month but if purchases are timed just right it can give you 60 day before the balance is due.</p></blockquote><p></p>
[QUOTE="Phil P, post: 6745277, member: 33598"] I think a lot of the trouble with most people (especially farmers) is if they have funds available they’ll spend it on something (usually shiny machinery). We don’t have an overdraft facility, I’m not saying there’s not times of the year when I wish we did but it takes a lot of cash flow management to keep out the red! Trouble is as soon as you dip into that overdraft it can take along time to dig yourself out, so if the money isn’t there you can’t spend it. we do fined that business credit cards help smooth out monthly outgoings. They get paid of each month but if purchases are timed just right it can give you 60 day before the balance is due. [/QUOTE]
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Overdraft requirements for coming growing season.
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