Skip to main content

Family Finances

All Family Finances Content

Hand holding a compass.

Planning for Retirement

No matter what your age or when you plan to retire, now is the time to begin saving for retirement.

Group of young children receiving a free meal at a lunch station. Courtesy: USDA

Communities Around South Dakota Provide Summer Meals for All Children

This summer, communities across South Dakota will be serving free meals to children, to ensure good nutrition and growth. The USDA Summer Meals Programs works with the South Dakota Department of Education, Child and Adult Nutrition Services office to make sure that when school lets out children are well-nourished throughout the summer.

A pen and calculator sitting next to an accounting binder.

Bookwork, The Missing Management Component: Consistency of Financial Records

Consistent record keeping will allow for accurate ratios and trend analysis. While operations will change, grow, or contract, having a standard operating procedure will allow for analysis and decision-making.

A male with three female farm administrators reviewing a binder of financial records. Courtesy: USDA

Bookwork, The Missing Management Component: Balance Sheet Valuations

The financial crash of the 1980’s has been attributed to changes in producer’s balance sheets, due to a decline in land prices. After this time, a two-column balance sheet was developed to help prevent that type of balance sheet collapse from occurring in the future.

Farmer sitting inside the cab of a green tractor parked inside a machine shed.

Bookwork, The Missing Management Component: Depreciation Determination and Use

Another component of determining net income is depreciation. This is one component of the Schedule F that many understand the least. Typically, the most use it gets is to minimize income tax through accelerated tax depreciation under section 179.

IRS Schedule "F" Form, Profit or Loss From Farming

Bookwork, The Missing Management Component: Farm Income Determination

Many ag producers do not like bookwork. Many times this job gets pushed to the side, until a bill is due or taxes need to be filed. It is also fair to say it is a missing component to the management of most operations. A missing component that could lead to the collapse of the operation.

Graduation table display with photos, awards, and keepsakes. Courtesy: Matthew Beckler [CC BY-SA 2.0]

Graduation Presents

College and high school graduates have, or soon will be, walking across the stage and shaking hands President and receiving their diplomas. This act officially moves them on to the next stage of their lives.

Stacks of coins getting gradually larger.

Your Money, Your Goals Program to Be Held at the Watertown Regional Library

May 10, 2019

Designed to help consumers meet their financial goal by increasing their knowledge, skills and resources, SDSU Extension is hosting Your Money, Your Goals June 12, 2019 at the Watertown Regional Library, Community Room (160 6th St. NE). The program is offered at no cost and will run from 6 – 7:30 p.m. All are welcome to attend.

Family Finances, Health, Older Adults

young woman standing by the oceanside with arms outstretched

Be Conscious of Your Financial Wellness

Just like going for a wellness checkup with your doctor, checking in on your financials is an important part of a well-rounded healthy lifestyle.

illustration of two hands reviewing terms inside an open book

Financial Terminology Refresher

You don’t have to be a finance whiz to understand basic financial terminology. Knowing the basics can help you interpret your own financial health and set goals for the future.