farmcfo.com.au/tools/household-drawings · 0412 759 847Household drawings budget
Enter the family's monthly living costs line by line. The calculator totals them by month and year and adds a buffer for the unexpected, giving one drawings figure to put in the farm budget. Lenders look at drawings closely, because the family is paid before the bank.
Your figures stay in this browser. Nothing is sent to Farm CFO or anyone else.
- Living costs a month
- $4,750
- Living costs a year
- $57,000
- Drawings for the farm budget
- $62,700 a year
About $5,225 a month, with the 10% buffer.
The example is an invented family of four. Replace every line with your own figures from bank and card statements.
The working
- Monthly living costs = the sum of the lines.
- Yearly living costs = monthly x 12.
- Drawings for the budget = yearly living costs x (1 + buffer %).
General information only. This calculator doesn't take account of your circumstances and isn't tax, credit or financial product advice. Check figures with your accountant before relying on them.
Want the numbers done for you?
Farm CFO builds the budget, the monthly cashflow and the tests your lender will run, at a fixed price.
Read next: Your first farm budget
Questions
Why does the bank care about drawings?
Drawings come out before repayments. If they're understated, the cashflow looks better than it is, and a credit team will check them against your statements.
What about off-farm income?
Leave it out here. Put it in the farm budget as income, so the drawings figure stays the full cost of living.