Series 2 - Ep 8: Financial Literacy and Record keeping
Series 2 - Ep 8: Financial Literacy and Record keeping
Welcome to Munda Make Over!
This week we learn about:
1. Financial Literacy: How to manage finances, keep records and savings.
2. Record Keeping: Importance of recording rainfall patterns during the season.
Today we want to look at financial literacy, how you manage your finances as a farmer during this climate change times. And this one affects every farmer, as an individual and when you come together as a group.
If you want to turn your farming into a profitable business, then you must have some financial education and practice it at your farm or in your farmers’ group. Financial education includes keeping records, savings and many other things but today we will focus on record keeping.
So, Standwell needs to keep a record of all the farming activities in his farm. And with the challenges of climate change, he also needs to keep a record of the rainfall patterns during the season, did it affect the plants, the livestock or was it okay. So, if he gets a low harvest and the rainfall was good, then he will know clearly that he needs to improve on the other areas like for example choosing the right fertilizer or drought resistant seed for his crop and if the rainfall was very poor, then he can improve on his land preparations to conserve more water in the soil. And with this information, he can then be ready for the new season.
recordkeeping Financial literacy finance record-keeping