Money Monday: Used Equipment

Our combine goes to the shop for a yearly tune. We got the call with our total last week.

It was more than my first year salary working a full time job…

Which spurred two thoughts —

1. How we think about money
2. How a farmer I respect manages risk

Starting with number 2 today —

When I worked that salary job at an equipment dealer group I had the privilege of working with a farm that traded all of their major equipment every year.

Giant MUD deal. Multiple combines, headers, 4WD tractors, sprayers, planters and air seeders. It was a really neat experience.

What came to mind when we got our combine bill was the reason this farmer told me he traded as he did.

To budget his equipment expense.

There were never any surprises.

He always knew how much equipment would cost his operation for the year.

I think of his model often. Especially on days we get a combine + header 🙈 bill that was much larger than anticipated.

What do you think? Have you found a method of managing risk that feels like it’s working?

Leave a Comment

error: Content is protected !!