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Saronville NE | Yup been their, I was down to under a 70/30 debt to assest ration at one time, think it was actually 73/27 to be exact, bank didnt shut me off but had to make major changes, sold new pickup, sold a tractor that bout broke me, had just gone thru a divorce, sold all my cows 110 hd at the time. Cut expenses hard, planted a butt load of hay, so could get rid of alot of input expense and ran, it saved my butt. Made it thru it, but kinda starting to feel that way again even though not anywhere near that level of broke, but cant afford much of any losses either would put the hurt on bad again. I made changes again this winter, prepearing for the worst, sold some equipment, yes we have replaced some also, but it still lowered our overall debt load alot, just sold a new pickup that i didnt like anyways, got rid of a payment that wasnt making me anything. Also planting alfalfa again, cuts alot of expenses out if corn crumbles like I think it will in the future, also making the changes I am is making ultimate use of equipment, got down to hard numbers I have my hands in to much of the pie for no bigger farm then we are, so letting some things go, going back to hiring it done and maximizing equipment. Repairs and equipment are my 2 weaknesses, always has been, so gotta fully utilize equipment to get it to pay, and the things that arent paying, hit the road, you can hire alot done cheaper then doing it yourself in the big picture of things if get down to hard numbers and not just to do it for the enjoyment of doing it.
So just look all options over VERY hard before making drastic descions. Think outside the box a little too, sometimes doing things different then everybody else does makes you money. Do what works for you, not what works for the neighborhood. Good luck! | |
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personal question?
