How to Cut Off-Book Costs

Wednesday, April 23 -  Host and American Family Farmer, Doug Stephan www.eastleighfarm.com shares the news affecting small farmers in America, including a focus on the trade war and the cost of new vs pre-owned equipment, a rise in importing eggs amid the continuation of the avian flu, and economic assistance payments. Then, Doug introduces us to Rachel Hopkins, an Ag Business Field Specialist with University of Missouri Extension, who has a long background in farming as she was raised on a multi-generation dairy farm. Doug and Rachel discuss the hardship family farmers are facing, where money is being hemorrhaged, and delving into the family finance aspect and where to “tighten the belt” and stop “keeping up with the Jones’s.” Today’s financial climate is causing farmers to make hard cuts to farm budgets, but Hopkins says they should not overlook household expenses. As a family farmer and mom, Rachel knows first hand the added stress of off-budget costs, especially when $20-$30 here or there multiple times quickly add up. Lastly, Doug opines the importance of female farmers, financial success in farmings, and modern farming via the AI influence. 


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