printWhen the weather’s dry, the pressure on the books often follows. For many farmers, managing cash flow, meeting repayments and planning ahead can feel like just another challenge in a tough season. At the recent Livestock SA Sticky Beak Days, experienced finance professional Deb Purvis shared practical advice on how to make better financial decisions in dry times—and why preparation matters.
With over two decades working in farm finance and bank negotiations, Deb has seen what works and what doesn’t when it comes to getting a better outcome from lenders.
Early Action Matters
Her first piece of advice? Don’t wait until things are dire to pick up the phone. “The earlier you talk to your bank or accountant, the more options you’ll have,” Deb said. “Update your tax returns, do a realistic cash flow budget, and think about what your next 12 months might look like.”
She also reminded farmers to look into existing support—programs like Farm Household Allowance, RIC loans, or the Rural Financial Counselling Service can offer a lifeline during dry periods.
Negotiation Starts with Preparation
Deb stressed that when it comes to finance, how you present your case makes a big difference. “You don’t need to be an accountant, but you do need to understand your numbers. Being able to explain your position clearly and confidently can open the door to better rates or more flexibility.”
She encouraged farmers to regularly review their loan structures—not just when the bank calls. “Interest rate creep is real. If you haven’t had a proper review for over a year, there’s a good chance you’re not on the most competitive terms anymore.”
Case Studies That Hit Home
Deb shared real-life examples from clients she’s worked with. In one case, a farmer saved $55,200 a year by refinancing a $3.5 million facility. Another saved $18,800 annually simply by comparing quotes on a land purchase. Even where fixed rates were in place, one business saved $71,000 each year after crunching the numbers and deciding it was worth paying out break fees.
“Sometimes people say ‘but my manager’s a good bloke,’” Deb said. “And that may be true. But it’s still worth asking the hard questions—what are you paying, and could you do better?”
The Takeaway
Ultimately, Deb’s message is about being informed and proactive. Don’t assume loyalty gets you the best deal, and don’t wait until you’re in trouble to review your finances. Good financial management—especially in dry times—is about preparation, asking questions, and taking the time to explore your options.
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Deb spoke at the recent AWI Extension SA/Livestock SA Sticky Beak Days