At the same time there is no favorable prediction for any increase in farm revenue. Farm families are searching for ways to reduce their expenses. One area that you should review is your family living expense.
Individual family living expense items are rather small in comparison to other farm expenses.
However, the category of farm family living expense is one the largest items in the farm cash flow. Farm families seem to be buying items that are very similar to purchases by most non-farm families. A major concern is the increased spending for family living expense from 19 percent to 24 percent of the cash flow in the last ten years. Higher personal interest expense points to the conclusion that living expense as well as farm expenses are being paid by credit card debits. Your family individual living expenditures can be determined in amount and timed to meet your cash flow.