MONEY SAVING TIPS

Submitted by IKGA members …Money saving suggestions being used on their farms

• USE VOLUME PURCHASING WHENEVER POSSIBLE

· But be careful to not over do it since some materials have a limited shelf life
· Combine purchases with other farmers in order to obtain a volume discount

 

• SHARE EXPENSES WITH OTHER FARMERS

· Cooperative marketing efforts can save money on transportation, for example.
· Local associations or groups of farmers often have similar interests and objectives
· Sharing equipment can reduce cost (borrowed equipment or rented equipment may be less expensive)

 

• RESEARCH ALTERNATIVES BEFORE A PURCHASE

· Comparison shopping really can save you money
· The Internet is a great way to review what is available as well as what the price range of an item may be
· Buying a used item locally at an auction, flea market, or farm may be a terrific bargain

 

• KEEP GOOD RECORDS FOR POTENTIAL TAX DEDUCTIONS

· Many farming expenses (or capital investments) are tax deductible
· Verify with a tax professional whether your purchased items are tax deductible

 

• USE RECYCLED / USED MATERIALS

· Old travel trailers, moving vans, vehicles for shelters
· Used large tanks (split in half) for shelters
· Used lumber from contractors or old buildings
· Used fencing (perhaps an old 6' fence made into a 4' fence)
· Returned items can be purchased inexpensively often
· Old freezers can be used for feed storage

 

• PUT GOOD LATCHES ON FEED STORAGE

· It avoids waste and potential harm to goats
· Goats are clever and can get into almost anything
· Use good latches on gates and doors as well (to keep the goats where you want them)