It doesn’t take long to realize how expensive homesteading can be. Many homesteads rely on one full time income off farm, with the other working part time or not at all to run the farm and raise children. Feed costs, repair expenses and a mortgage can be a challenge. Sustainable homesteading practices allow us to focus on what’s most important while eliminating things that may become a financial drain.
Is your homestead making you feel broke? In recent years as prices have increased, you may not realize how much you are paying for supplies now. Sometimes if it’s something you need, you might ignore the price because you have to buy it anyway. More often than not, we don’t need as much as we think. Surprisingly, sometimes the things that are supposed to save us money, actually cost us more.
Sustainable Homesteading Pitfalls
I recently sat down with my husband to go over our finances. I was honestly frustrated because, neither of us were going out to eat or buying unnecessary purchases but at the end of the month we were running a little low. It forced me to take a hard look at what we were spending money on at the farm. Somethings couldn’t be helped, but we realized that other things needed to change. Here are some common pitfalls that many homesteaders can run into.
- Not budgeting for maintenance and repairs on equipment can be a big blow on the budget. This Spring servicing the garden tractor and repairing the trimmer was around $400.
- Additional hay and feed costs during the Winter months. Hay and feed costs are much higher during the Winter months.
- Having more animals than necessary can have a big impact on your budget. If your goal is to grow your own meat then decide how many animals you need to do that and consider selling the extra livestock or butchering them if there is room in your freezer or if friends want to purchase extra meat from you.
- Small expenses can add up. Ask yourself if you really need that item before you purchase it. You may have something that will work just fine for now.
- Too many chickens. Get enough to provide for your family with a little extra to preserve during the winter when chickens often stop laying. The cost of raising more chickens than you need means you will be giving away very expensive eggs. Butcher the older hens for delicious winter stews and casseroles.
- Be realist when planning your garden. Try not to plant more than you need. Those plants and seeds cost money as do soil amendments and other gardening supplies. Keeping up with the garden is hard enough, no need to make it more difficult.
Plan for Seasonal Changes in Expenses
Routinely reevaluating what your homesteading needs are and adjusting to them helps to keep the farm budget intact. As the season changes so should the budget. It is important to go over the budget each season to prepare. Focusing on where your money is going on the farm will allow you to follow sustainable homesteading practices.
