In episode 2 of our Transition Planning Series, we look at organizing your financial information. We review the essential parts of a balance sheet, both farm and personal, and the farm income statement. In addition, we look at building a monthly/annual household spending plan.

As a reminder, this series is built around UW-Madison Division of Extension's "Cultivating Your Farm's Future" workbook.

Workbook link: https://farms.extension.wisc.edu/programs/cultivating-your-farms-future/

Spending Plan- Link to Excel File: https://farms.extension.wisc.edu/articles/monthly-and-annual-spending-plan-part-1-of-2/

KFMA Podcast Episodes on Balance Sheets:

https://kfmapodcast.libsyn.com/balance-sheets-part-1

https://kfmapodcast.libsyn.com/balance-sheets-part-2

https://kfmapodcast.libsyn.com/balance-sheets-part-3-personal-balance-sheets