Scale for weighing?

[greybeard]

You are right- can't make money off of a hobby. It wouldn't be a hobby then

But, as you point out, money can be 'lost' and inversely, money can be 'saved' even if looking at it from the perspective at the end of the year when one wonders "Where did all my regular job earnings go?"

None of us, whether in it for pure enjoyment, for supplemental income, for just supplementing our table fare or any other reason want to throw money away needlessly or not be diligent about where it is spent. If any tool helps in that regard, then it is a good investment.

I keep my household expenses completely separate from my cattle operation, but even within the household account, I... like everyone else keeps an eye on how and where I spend my money.

And in my area, there are lots of people who make a financial profit on their small livestock ventures even tho it is no where near enough to provide what the IRS would call a business.

 

[Mike CHS]

Some good friends run about 150 head of sheep (for profit) and one thing they were amazed at was how much difference there was in taping (estimating) vs true weight.

 

[NH homesteader]

I am researching and evaluating the market in order to make some money off my homestead, but for me I replace money spent at the grocery store with money spent at the feed store. For now.

Bossroo I believe you have good intentions and do not want to see us all go broke! But I agree, perhaps start a thread to help us understand where you are coming from. I know you have made money farming and you know what you're talking about but it sounds critical, intentional or not, when you drop comments on threads telling people what they are doing is wrong.

 

[Southern by choice]

The REALITY IS the homesteaders, you and I would be much better off financialy IF we viewed and worked our property, animals, and all crops as a BUSINESS instead of a hobby. A hobby guarantees you throwing your money down the toilet.

But, as you point out, money can be 'lost' and inversely, money can be 'saved' even if looking at it from the perspective at the end of the year when one wonders "Where did all my regular job earnings go?"

None of us, whether in it for pure enjoyment, for supplemental income, for just supplementing our table fare or any other reason want to throw money away needlessly or not be diligent about where it is spent. If any tool helps in that regard, then it is a good investment.

I keep my household expenses completely separate from my cattle operation, but even within the household account, I... like everyone else keeps an eye on how and where I spend my money.

And in my area, there are lots of people who make a financial profit on their small livestock ventures even tho it is no where near enough to provide what the IRS would call a business.

[/QUOTE]

Most of us that have more than two goats or sheep already do keep our stuff separate and know the cost. The fact is that if a person is using their homestead for their sustenance there is no going to necessarily be profit however food is important. For some knowing where their food comes from and living off their land is very valuable even though there may be no profit.
Many who choose to live this way are savvy enough to know what part of their venture is too costly and what is not.

For many starting out as a hobby and having zero interest in becoming a business has it's advantages. Many will give up and get out of having livestock withing the first 5 years.
Those that make it to five years have a better grasp of all the important things that can make or break them. It is generally after that 5 year mark that people will venture into more of a profitable farm vs a hobby.

As @Goat Whisperer mentioned... we see many that are real gung ho about how they are going to have this farm and what they are going to do ... they plan invest etc yet have no knowledge and fail.
Some think taking care of 4-6 goats is easy so lets go forward and do abc... not realizing that moving from 2-6 animals to 20, 30, 50 or more will be significantly different.

Don't get me wrong, profit is great but for many, they are fine with their hobby and having a few animals for their homestead or enjoyment.

Many that have just a few aces and have small "hobby farms" are already grilled by so many about WHY they aren't making money off their farm.
Why don't you do this?
Why don't you do that?
All you do is spend every minute on your farm and yet you don't make any money.... blah blah blah

Truly it gets old. Like anything we all make choices. Some have hobbies like travelling, they don't profit, they won't break even... there is NO return BUT they enjoy it.
In a culture that is so removed from farming in any regard and a youth that knows nothing about caring for something. Life & loss, hard work, understanding, compassion, heartbreak... these are all positive life skills and valuable. Some of us feel that those things are of greater value than a dollar figure or what the profit/loss margin is.

 

[Bossroo]

Money pits are not fun.
If someone is just homesteading , you need to know if you are on the right side of the short stick. Your livelyhood as well as your family's welfare is at stake. Everyone should keep accurate records whether your activity is for profit or a hobby so you know where you stand. If you are in it to just supplementing your table fare,what did it cost you to produce it vs. buying it from your neighbor ? If you are better/ more efficient at raising an animal and produce it for less money than someone else you can make a profit. If you can't grow produce for less money than your neighbor , you can sell your animal and buy produce from your neighbor, hey you both profit. However, if you can't and you loose money you need to have the foresight to change your venture and mode of operation post haste. Everyone of us need to treat all of our activities ( yes, even a hobby) as a business and know where we stand financially before we wake up and say what happened.

 

[NH homesteader]

Well I only keep what I can afford. My goats are not money makers. I will sell some kids, sell soap to friends... My chickens provide eggs and meat and my plan is to get back to selling enough eggs to cover feed. The pigs, well if we don't make money breeding, or at least save money, (which I'm going to watch closely), we will go back to buying piglets to raise. But I buy zero meat from the grocery store, and will hopefully buy no dairy in the next few years. So is it worth it if I don't make money? Sure. My child growing up on a farm tips the scales, like SBC said.

But I will not raise cattle because I could never afford it, and I choose to keep a small number of the animals I do have.so of course I don't want to throw money away. But I choose what I do based first on what I want to do, then on what makes a profit.

 

[Goat Whisperer]

C'mon @Bossroo you didn't answer my questions!

I'd love to know what you raise! You have been on here for years now, time to spill the beans!

 

[NH homesteader]

I've seen Bossroo post on that. Sheep and rabbits primarily right? Dorpers I assume.

 

[Goat Whisperer]

I've been on for quite some time, I have probably seen a few more of his posts than you have

I believe, based on his posts, he's sold out several times.
Its unclear whether or not he actually owns livestock at this time

ETA re read this post. Hope it didn't come across as snarky

 

[NH homesteader]

No he answered OFA when he asked a while ago is why I know. I'm aware I'm new and haven't seen all the posts but I remember that one because I was also curious. I wasn't saying I know his life story