News

Money management tips for young farmers

By Jamie Salter

Young farmers can learn how to manage money, debt and dealing with banks through a new online workshop hosted by Agriculture Victoria.

The 90-minute workshop will help young farmers understand the finance options available to achieve their goals.

ORM senior consultant and workshop host Jane Foster will bring experience in farm debt management and financial data analysis.

“Understanding where to start with agricultural financing can be overwhelming, so I’ll offer some tools and knowledge to help young farmers feel prepared and confident in their decisions when applying for loans,” Ms Foster said.

The workshop will also assess how to set realistic goals and whether buying land is necessary to get started in agriculture.

Farmers will also be guided through what they need to think about before approaching a bank, and what to expect when it comes to approval processes.

Agriculture Victoria’s Young Farmer Project co-ordinator Sarah Wallis said after working at NAB for more than a decade, Ms Foster knew the agribusiness sector inside out.

“Young farmers should register for this online workshop to learn and understand the financial lingo so they can talk to banks and other finance partners, plan their futures and make it happen,” Ms Wallis said.

The free Farm Finance — Getting Prepared workshop is supported by Agriculture Victoria’s Smarter, Safer Farms program.

It will be held on Friday, July 24 at 12.30 pm, and the session will be recorded and made available for those who register.

Registrations (via Zoom) can be made at: zoom.us/meeting/register/tJ0of-ytqjotGtbyo1ynhItVJXApFjOkJM3i

For more information, phone Sarah Wallis on 0419 571 208.