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Tag: financial

A Better Budget
December 12, 2013 |

A Better Budget

The first step to financial security is establishing a budget. Here’s how it works: 1. Start with the expected yield per acre and multiply it by the number of acres to be planted. 2. Multiply that number by the price you expect to receive (the total of your anticipated gross receipts). 3. From that number, […]

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Smart Budgeting
[ 0 ] April 22, 2013 |

Smart Budgeting

This economy has everyone taking a hard look at what they spend versus what they take in. Modern tobacco farmers are no different. They are constantly reviewing their input costs to see what they can trim from their expenses without sacrificing the quality of their product. Keeping a record of how every dime was spent […]

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Help Wanted
[ 0 ] April 19, 2013 |

Help Wanted

Labor is the largest variable expense in tobacco growing, especially when it comes to burley. Tobacco production studies have generally indicated that despite some gains in labor efficiency over the years, it still takes 150 to 200 hours of labor to grow an acre of burley tobacco. Still, you can take some steps to help […]

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Keeping Good Records
[ 0 ] May 14, 2012 |

Keeping Good Records

The best way to keep good records is to do whatever is easiest for you so that you can track your operations on a daily basis. Laura Powers, University of Kentucky Extension specialist, says she knows of growers who keep a pocket calendar on hand, transferring their handwritten notes to an electronic expense tracking system […]

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