drawings off the farm

Greengrass1

Very interesting discussion today about what drawings should be taken from farm or pay yourself.
Would you pay yourself a certain c/l say 6c?
Use what ever profit the farm generates to live off which could be anything from 20+k on some farms
Or just take what ye need which might onky be 300e month for say a lad like me who has no personal commitments heasing up to someone that has family commitments and all that goes with it and needs 2.5k a month or whatever

stanflt

Greengrass1 wrote: »

Very interesting discussion today about what drawings should be taken from farm or pay yourself.
Would you pay yourself a certain c/l say 6c?
Use what ever profit the farm generates to live off which could be anything from 20+k on some farms
Or just take what ye need which might onky be 300e month for say a lad like me who has no personal commitments heasing up to someone that has family commitments and all that goes with it and needs 2.5k a month or whatever

With a child and mortgage 4k a month wouldn't be long going

Muckit

Greengrass you are living a very sheltered life there. €300 ....a month???????

Most people would have a mortgage over €1000 a month. Chilcare then €600-1000. That's before you put food on the table or turn on a light switch.

Run two cars, clothe yourself and heat the house. .... it's all money.

epfff

Muckit wrote: »

Greengrass you are living a very sheltered life there. €300 ....a month???????

Most people would have a mortgage over €1000 a month. Chilcare then €600-1000. That's before you put food on the table or turn on a light switch.

Run two cars, clothe yourself and heat the house. .... it's all money.

If you read again you will see he clearly said for a singleton like himself

I am only pastime so I have luxury of income every second week
I use farm drawings for what I call the big bills built a house recently so had lots but normally replacing cars insurance and the like

Muckit

But surely he needs to be thinking to the future? He has a gf. I'm sure they'll be looking to make their own life. He won't do it on fresh air.

darragh_haven

Draw as much as you can in low tax bracket and save what you don't use every month. It'll be neede when you build a house or try to pay for a wedding

Greengrass1

Muckit wrote: »

But surely he needs to be thinking to the future? He has a gf. I'm sure they'll be looking to make their own life. He won't do it on fresh air.

The car insurance is paid by farm and car tax . 300e goes a long way only do stuff at weekends really. Obviously im looking towards a view of that increasing over the next ten yrs or whatever but im happy enough as at the minute

mahoney_j

Greengrass1 wrote: »

The car insurance is paid by farm and car tax . 300e goes a long way only do stuff at weekends really. Obviously im looking towards a view of that increasing over the next ten yrs or whatever but im happy enough as at the minute

Jaysus gg 300 a month even for someone in ur position is s pittance.a good night out with gf would set u back 150 alone between grub ,booze taxi and am other thins!!you should live the high life now while you have no mortgage,kids or other big commitments.theres a big bad world out there to see

Bullocks

mahoney_j wrote: »

Jaysus gg 300 a month even for someone in ur position is s pittance.a good night out with gf would set u back 150 alone between grub ,booze taxi and am other thins!!you should live the high life now while you have no mortgage,kids or other big commitments.theres a big bad world out there to see

It might be good to be used to a budget like that for when , mortgage , wife , kids and all the rest come along . Jesus I was going through last year with the accountant last week and it looked like we brought in a good years money but I haven't a pot to piss in after it . I would do better to think more before I spend on crap

frazzledhome

Gg in your position draw the absolute minimum and invest as much as you can in your business.

This is provided your an equal partner in the business if not full salary. Don't be an eejit working hard making sacrifices without a family roadmap

If your not already a partner sit down and discuss. If successful work like a hoor and build your business as much as you can. When married with kids you'll start to haemorrhage cash.

Greengrass1

mahoney_j wrote: »

Jaysus gg 300 a month even for someone in ur position is s pittance.a good night out with gf would set u back 150 alone between grub ,booze taxi and am other thins!!you should live the high life now while you have no mortgage,kids or other big commitments.theres a big bad world out there to see

150 between two yes but the girlfriend is in college too so she hasnt the money to burn either. Im happy enough at tge minute ive no othet bills food esb tax and insurance is all covered its not massive money I know

Deepsouthwest

I was at a Teagasc walk a while back, to get farmers thinking of money management the advisor was trying to do up an 'average' profit monitor for a man with 70 cows, 1 wife and 2 kids, and no other off farm income. When we came to drawings a few of us reckoned around 40k would be a reasonable figure, some other lads thought we were crazy and would not accept it. Some people would live under a stone!

Feckthis

Jaysus you dairy boys have it handy. I have never got so much as a can of coke out of the farm.

Greengrass1

frazzledhome wrote: »

Gg in your position draw the absolute minimum and invest as much as you can in your business.

This is provided your an equal partner in the business if not full salary. Don't be an eejit working hard making sacrifices without a family roadmap

If your not already a partner sit down and discuss. If successful work like a hoor and build your business as much as you can. When married with kids you'll start to haemorrhage cash.

The philosophy here always put back in as much as we could worked okay so far with land being tripled.
Were hoping for partnership next spring with the leased land coming into my name and ill go for entitlements on that. Wether I use that to lease more land or not I dont if opertunity comes ill take it.
Im mad to build the cow numbers here and im happy as a pig in muck doing it.
I dont go on beer often got that out of my system in college maybe once twice a month now
I get the bull calves too I save alot of that but ill possibly squander that soon on a car

Greengrass1

Deepsouthwest wrote: »

I was at a Teagasc walk a while back, to get farmers thinking of money management the advisor was trying to do up an 'average' profit monitor for a man with 70 cows, 1 wife and 2 kids, and no other off farm income. When we came to drawings a few of us reckoned around 40k would be a reasonable figure, some other lads thought we were crazy and would not accept it. Some people would live under a stone!

Ive no doubt it would cost that much with siblings in college here and all the rest it wouldn't be too far away. Id be looking to be taking 50-60k eventually for myself and parents wether that takes 5-7 yrs I dont know

mahoney_j

frazzledhome wrote: »

Gg in your position draw the absolute minimum and invest as much as you can in your business.

This is provided your an equal partner in the business if not full salary. Don't be an eejit working hard making sacrifices without a family roadmap

If your not already a partner sit down and discuss. If successful work like a hoor and build your business as much as you can. When married with kids you'll start to haemorrhage cash.

Fair point frazzled but your only young once,no point in looking back in 10 years with a few kids,mortgage,farm loans etc and regretting not doing all those things you should of like travelling,weekends away,holidays etc when u could.you could end up resenting the farm because of it.i had a great time in my late teens early twenties doing all the above and don't regret for one second putting myself first and farm second. I was in a similar position to gg as my dad could do a fair chunk of work whilst I was enjoying myself.i still I'd my fair chunk and never left him in the lurk.now heading for mid 30s with the wife,kid,mortgage and loans and content.still sneak off to my rugby matches,and weekend away with family.it takes a lot of sweet talking and planning though!!!

Greengrass1

mahoney_j wrote: »

Fair point frazzled but your only young once,no point in looking back in 10 years with a few kids,mortgage,farm loans etc and regretting not doing all those things you should of like travelling,weekends away,holidays etc when u could.you could end up resenting the farm because of it.i had a great time in my late teens early twenties doing all the above and don't regret for one second putting myself first and farm second. I was in a similar position to gg as my dad could do a fair chunk of work whilst I was enjoying myself.i still I'd my fair chunk and never left him in the lurk.now heading for mid 30s with the wife,kid,mortgage and loans and content.still sneak off to my rugby matches,and weekend away with family.it takes a lot of sweet talking and planning though!!!

Definitely taking one holiday a yr from now on well worth it I couldn't hack going on beer every weekend tbh have few mates that do but they dont have to milk the next morning. The father would milk alright but he's gotten used to his sunday morning lie ins.
Main thing im trying to keep at is the budgeting and keeo as much money inside the gate im positive all the hard work will pay off it usually does.
But how many pay themselves per hour or pay themselves per litre sold?

keep going

Deepsouthwest wrote: »

I was at a Teagasc walk a while back, to get farmers thinking of money management the advisor was trying to do up an 'average' profit monitor for a man with 70 cows, 1 wife and 2 kids, and no other off farm income. When we came to drawings a few of us reckoned around 40k would be a reasonable figure, some other lads thought we were crazy and would not accept it. Some people would live under a stone!

I think I was there that day too, big question I would throw is the oh working big difference to drawings.these next comments were made by my uncle in giving advice about women so I am only ralaying them"keep them working because if they are not making it, they are spending it

Deepsouthwest

keep going wrote: »

I think I was there that day too, big question I would throw is the oh working big difference to drawings.these next comments were made by my uncle in giving advice about women so I am only ralaying them"keep them working because if they are not making it, they are spending it

And my woman just about to start a career break to spend more time with the kids, probably too late to talk her out of it!

Timmaay

I'm not a million miles off GG (except I defo draw well more than 300/month ha), but I have been happy to leave money in the farm the last few yrs, spending on it for things like improving roadways, grazing infrastructure, new bulk tank and the next big spend a new parlour, these are all things that all make my life a hell of a lot easier on the farm, freeing up time to do other stuff. It's only been since the summer that I've been able to take foot off the pedal abit and work less hours on the farm due to simplifying everything here, certainly would have been harder to achieve that without the investment made so far. I'm trying to divert some of these free hours towards pushing on another part time business I've started in a totally unrelated area to farming

. I actually did draw down a decent few quid from the farm earlier in the year (high milk price), but left this aside as savings, I've no strings yet but life ain't going to hang around for me so got to consider things like saving up to build a house etc. A big thing for me also is getting away abroad for a week at least twice a year, I don't need to spend huge money on holidays but try to keep them interesting ha.

frazzledhome

Deepsouthwest wrote: »

And my woman just about to start a career break to spend more time with the kids, probably too late to talk her out of it!

Whatever you do don't stop her, best thing we've ever done here. I hope she always stays off work.

Miname

i take money out for the parents bigger bills like vhi, house insurance and heating and esb, maybe take a few quid once in a while but nothing major. everything is pumped back into the farm but i have my first kid on the way so id say thats going to change. herself is getting a bit wound up with how il spend for the cows comfort and not my own.

Sam Kade

darragh_haven wrote: »

Draw as much as you can in low tax bracket and save what you don't use every month. It'll be neede when you build a house or try to pay for a wedding

You could get married for €200

darragh_haven

Sam Kade wrote: »

You could get married for €200

I could. Not a problem. You might come down here and tell my OH.....




I dare ya

Sam Kade

darragh_haven wrote: »

I could. Not a problem. You might come down here and tell my OH.....




I dare ya

If I succeed your wedding will be costing €1200

Sam Kade

darragh_haven wrote: »

I could. Not a problem. You might come down here and tell my OH.....




I dare ya

I'll do it for €1,000 no result no fee

Muckit

frazzledhome wrote: »

Whatever you do don't stop her, best thing we've ever done here. I hope she always stays off work.

Whatever about staying home to rear a family, would it not be a good idea for her to go back after to be able to draw her own pension when the time comes?

ganmo

Ya can accrue for a wage on the books and not pay it if you want to use the cash for something else.

Count Mondego

Greengrass, whatever you do, enjoy your late 20s and early 30s. I happily drank my brains out for a good few years and had mighty craic, got a few Oktoberfest's in and the like. You'll never have that in your forties or fifties even with money as priorities change. If you slog your way through those years you'll never have them back.

Deepsouthwest

frazzledhome wrote: »

Whatever you do don't stop her, best thing we've ever done here. I hope she always stays off work.

I've no intension of stopping her, not that I could anyway! Can't wait for it to start

blackdog1

frazzledhome wrote: »

Gg in your position draw the absolute minimum and invest as much as you can in your business.

This is provided your an equal partner in the business if not full salary. Don't be an eejit working hard making sacrifices without a family roadmap

If your not already a partner sit down and discuss. If successful work like a hoor and build your business as much as you can. When married with kids you'll start to haemorrhage cash.

I agree 100 % with frazz . Invest in your farm untill your in a serious relationship. Make it so its a one man operation that runs smoothly. Im not there yet but im bloody nearly there and the pressure off you is amazing. You can watch matches spend time with the kids etc. If your old fella is still young get a part time job. Work hard so when your father retires he can enjoy it and your not under any pressure. The amount of farmers I see who get out after the father retires is huge because they can't cope with the work.

mahoney_j

Count Mondego wrote: »

Greengrass, whatever you do, enjoy your late 20s and early 30s. I happily drank my brains out for a good few years and had mighty craic, got a few Oktoberfest's in and the like. You'll never have that in your forties or fifties even with money as priorities change. If you slog your way through those years you'll never have them back.

+1

mahoney_j

blackdog1 wrote: »

I agree 100 % with frazz . Invest in your farm untill your in a serious relationship. Make it so its a one man operation that runs smoothly. Im not there yet but im bloody nearly there and the pressure off you is amazing. You can watch matches spend time with the kids etc. If your old fella is still young get a part time job. Work hard so when your father retires he can enjoy it and your not under any pressure. The amount of farmers I see who get out after the father retires is huge because they can't cope with the work.

Trouble with that is u may never get into a serious relationship cause she will see its farm first and marriage/her second.your only young once enjoy it cause you'll never get it back

Viewtodiefor

mahoney_j wrote: »

Trouble with that is u may never get into a serious relationship cause she will see its farm first and marriage/her second.your only young once enjoy it cause you'll never get it back

Have to agree with you mj, within reason get out there and enjoy yourself when your young, go see as many outa the way places as you can, have a bit of Craic meet new people from different cultures. There is more to life than farming especially in your twenties! (Some dont think this) Once the kids n morgages come along ya won't be going far.

blackdog1

mahoney_j wrote: »

Trouble with that is u may never get into a serious relationship cause she will see its farm first and marriage/her second.your only young once enjoy it cause you'll never get it back

Im not saying don't enjoy life, just have a joint bank account and draw down what you need. When you're in your early-mid twenties travel and enjoy yourself because you won't get a chance later. I never had a problem with my wife as she always knew I was striving for an easier way of life and better quality time. Im by no means there yet but if I want to get away from the farm im able to now. Ive invested heavily in the farm and the net result is More profit and less stress on the family. I strongly advise gg to go to nz or aus if he wants to because thats the one regret I have is that I didn't travel for 3-6 months.

Greengrass1

Definitely not slogging for no gain lads I have my goals such as farm being one man operation bar spring when I hit 30s. Ive done a bit of traveling still have my fair share of drunken nights but that's not what I want to be at all the time either I can see things improving yr on yr and its making me work harder.
There's definitely money there if its needed like the holiday I went on this yr all I needed to have was my spending money didnt have to pay for it as such..
I might not get it all in a wage but I get it in different ways.
We have savage bills and we knew it would be like that ye have to make tge money go as far as you can

Reggie.

frazzledhome wrote: »

Whatever you do don't stop her, best thing we've ever done here. I hope she always stays off work.

Yeah my missus does a 3 day week and can't see her doing a 5 day ever again

Muckit

Reggie. wrote: »

Yeah my missus does a 3 day week and can't see her doing a 5 day ever again

Reggie that's not the same thing at all. Big difference between staying at home ALL the time and working 3 days!!

Reggie.

Muckit wrote: »

Reggie that's not the same thing at all. Big difference between staying at home ALL the time and working 3 days!!

Ok sorry for the input.

Feckthis

Reggie. wrote: »

Ok sorry for the input.

Lol your gas reggie

Reggie.

Greengrass1 wrote: »

Definitely not slogging for no gain lads I have my goals such as farm being one man operation bar spring when I hit 30s. Ive done a bit of traveling still have my fair share of drunken nights but that's not what I want to be at all the time either I can see things improving yr on yr and its making me work harder.
There's definitely money there if its needed like the holiday I went on this yr all I needed to have was my spending money didnt have to pay for it as such..
I might not get it all in a wage but I get it in different ways.
We have savage bills and we knew it would be like that ye have to make the money go as far as you can

Fair play to ya green ya have your head on right as far as I'm concerned

Kevhog1988

Make sure and enjoy life lad. Ive put work first from the age of 14. Gave up football to work, didn't enjoy college much as i spent half that time working to pay for it. now Ive a child who i have every second weekend (i work the other weekend) and although i wouldn't ever give him back it is hard to be the sensible one every weekend. I went out to a friends birthday party there saturday night and had a few pints with him. It was great to let loose!!

Working hard is definitely a must and I'm sure you will see that your efforts are paying off but make sure and take a few pound out and enjoy yourself. Bring your missus away for the odd weekend or whatever. Believe me most women do not like a workaholic.

milkprofit

Greengrass1 wrote: »

Definitely not slogging for no gain lads I have my goals such as farm being one man operation bar spring when I hit 30s. Ive done a bit of traveling still have my fair share of drunken nights but that's not what I want to be at all the time either I can see things improving yr on yr and its making me work harder.
There's definitely money there if its needed like the holiday I went on this yr all I needed to have was my spending money didnt have to pay for it as such..
I might not get it all in a wage but I get it in different ways.
We have savage bills and we knew it would be like that ye have to make tge money go as far as you can

Gg go to nz
the best investment u will ever make personally and for farm profit
Don't know u situation but have u succession worked out or are u living in hope

mahoney_j

milkprofit wrote: »

Gg go to nz
the best investment u will ever make personally and for farm profit
Don't know u situation but have u succession worked out or are u living in hope

Think our gg has been there,he needs to go see the polar opposite now,a stint in Holland or the U.S. To see and work in a hi input output system.that way you can marry best of both worlds which is where most of us farming on limited land bases need to be in Ireland.

Greengrass1

milkprofit wrote: »

Gg go to nz
the best investment u will ever make personally and for farm profit
Don't know u situation but have u succession worked out or are u living in hope

Been. Plan on going for a holiday sone time again.
Thats hslf worked out im definitely getting the farm.
Sisters not yet but thet have said they only want education but something still has to be worked out there. Dont kbow what though. They wont be getting sites as very limited road frontage and I dont think they want to happen to me what happened with family matters here

Greengrass1

mahoney_j wrote: »

Think our gg has been there,he needs to go see the polar opposite now,a stint in Holland or the U.S. To see and work in a hi input output system.that way you can marry best of both worlds which is where most of us farming on limited land bases need to be in Ireland.

Oh definitely would go but wont bring thr gf she wants a break from farming talk
Its a two man system at home though and dad has worked long enough on his own at it when a second man was needed he'd be under serious pressure on his own if I fcuked off on him for a few months with even more stock to look after

mahoney_j

Greengrass1 wrote: »

Oh definitely would go but wont bring thr gf she wants a break from farming talk
Its a two man system at home though and dad has worked long enough on his own at it when a second man was needed he'd be under serious pressure on his own if I fcuked off on him for a few months with even more stock to look after

In box full there gg,trying to reply to pm

frazzledhome

mahoney_j wrote: »

Think our gg has been there,he needs to go see the polar opposite now,a stint in Holland or the U.S. To see and work in a hi input output system.that way you can marry best of both worlds which is where most of us farming on limited land bases need to be in Ireland.

I did the Holland bit first and tried it nearly broke me, went to NZ and salvation

mahoney_j

frazzledhome wrote: »

I did the Holland bit first and tried it nearly broke me, went to NZ and salvation

Somewhere in between would be my salvation.no way I'd like a system like the boys up north or Holland ,fixed costs way too high,don't like most have the scale to make kiwi way work so middle of the road it is for me marrying best of both.so far so good but if I had the scale I would be going the kiwi way but I enjoy what I'm at at the moment and get a good satisfaction from it

Timmaay

Sure plenty of lads feeding in NZ now anyways?? Even if it's obviously wrong to directly implement a totally low cost system, at least you learn bucket loads about costs of production, growing grass, block calving etc, all very relevant to any grass based system. If I've learned anything it's that you need to get the basics right, which they certainly do over in NZ, adding in extra feed etc is the extremely easy part, a few parlour feeders or a pit with a layer of whole crop or maize that you fire in with the shear grab and job done! If you want to learn about TMR, robots, big HOs then go to Holland, however that's all so far removed from what's feasible to the average farmer here I can't see the actual benefit.

mahoney_j

Timmaay wrote: »

Sure plenty of lads feeding in NZ now anyways?? Even if it's obviously wrong to directly implement a totally low cost system, at least you learn bucket loads about costs of production, growing grass, block calving etc, all very relevant to any grass based system. If I've learned anything it's that you need to get the basics right, which they certainly do over in NZ, adding in extra feed etc is the extremely easy part, a few parlour feeders or a pit with a layer of whole crop or maize that you fire in with the shear grab and job done! If you want to learn about TMR, robots, big HOs then go to Holland, however that's all so far removed from what's feasible to the average farmer here I can't see the actual benefit.

Valid points Tim but a lot could be learnt from the Dutch .And kiwis.most of us can't go all one way or the other we don't have the scale(most of us)to go total low cost and the dutch way is just way too high cost.we need to combine the best of both