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When Creating 2025 Crop Budgets, Keep in Mind Family Living Costs

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  • Zwilling, Bradley

Abstract

In 2023, the total noncapital living expenses of 1,345 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $97,100--or about $8,000 a month for each family (Figure 1). This average was about 6 percent higher than in 2022. Another $8,762 was used to buy capital items such as the personal share of the family automobile, furniture, and household equipment. Thus, the grand total for living expenses averaged $105,862 for 2023 compared with $98,833 for 2022, or a $7,029 increase per family.

Suggested Citation

  • Zwilling, Bradley, 2025. "When Creating 2025 Crop Budgets, Keep in Mind Family Living Costs," farmdoc daily, University of Illinois at Urbana-Champaign, Department of Agricultural and Consumer Economics, vol. 14(209).
    • Handle: RePEc:ags:illufd:358398
    DOI: 10.22004/ag.econ.358398
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