Should I start saving my money now?

Question

If I want to run my own working farm as a business, should I start saving money now? I haven't started college yet. I don't have any idea how much money I would need! Help please?

I want cows, horses, chickens...the works.

Answer 1

If your going to go into all of that, you need to make sure it can be profitable first.  You have to factor in the cost of land, something to live in, fences, feed, vetrinary costs, trailers to haul animals in, insurance, machinery if you plan to farm, etc....

Answer 2

No time like the present.  If you can start saving now, do so. My 14 year old daughter is already working and putting money away to start her own cake decorating business.

It's easier to get in the habit of saving early.  Then it becomes a habit and you will be able to keep it up.

Good luck

Answer 3

I have one, cows, bulls, 2 horses, stocked lake, ponds, chickens, ducks the whole 9 yards. Its nice to have and makes a great tax write off but less you have !000 plus acres of land to plant and sell crops it just doesnt work...

Heck of an idea though.

Answer 4

it couldn't hurt. Start saving now, if you have more then you need, you'll be in even better shape.

good luck!