Newsletter #35

Posted on by debpurvis

Top 4 Interest Rate Review Roadblocks + How We Can Help

Hello!

We’re hoping you’ve seen a bit of rain your way, it’s been exciting to finally spot some big puddles again!

July has been a busy one for Laura and I. We’ve been on the road across the state, squeezed in some office days, and attended a few great events along the way. It’s full-on, but we wouldn’t have it any other way.

In this month’s blog, I dive into one of my favourite topics (even if I might be the only one): interest rates. It’s something I think farmers should be keeping a close eye on. Interest is often one of the top three expenses in a farm business, but it doesn’t always get the attention it deserves. If your chemical bill blew out, you’d stop and take a good look, so why not do the same with your finance?

Out and About – What We’ve Been Up To This Month
This month’s travel has taken us all over, from the Eyre Peninsula to the South East, and closer to home in the Mid North. It’s been a great reminder of just how beautiful South Australia is!

We also caught up with one of our long-standing clients, a relationship I’ve had for over 10 years. Laura brought her analytics skills to the table, pulling together a detailed overview of their financials. We reviewed budgets vs actuals in graph format, looked at key bank ratios, and benchmarked performance against GRDC farmer survey benchmarks. It was a great chance to step back and view the numbers from a broader perspective, because let’s face it, some years on their own can look a bit rough. This is exactly the type of support I had in mind when Laura joined the business. We even got a lovely message afterwards from the client, saying how valuable it was to stop, review, and compare.

If you’re one of our existing clients and think this type of review might be helpful for your business, feel free to flick Laura an email, she’d be more than happy to assist.

Out & Abouts – Events

We also had the chance to attend the GRDC Farm Update in Clare, which was packed with insights from some fantastic speakers. There was a wide range of topics, not just focused on farming, but also covering family, mental health, and external market factors. The breadth of content really highlights the complexity of farming and the many hats our farmer’s wear.

I had the opportunity to attend the Rural Business Support Drought Breaker Lunch, a brilliant event that raised $171,600. It was great to see both city and country people come together to support such an important cause. The atmosphere was buzzing, and it was a powerful reminder of just how strong and connected our rural communities are.

Although I didn’t personally attend the Crows Drought Support Round, I still wanted to give it a mention, it’s fantastic to see big clubs and events getting behind our farmers. (And let’s be honest, it’s even better when the Crows bring home a win!)

Top 4 Roadblocks for Interest Rate Reviews

There’s not a single person I know who would be happy to learn they’re paying more interest than they need to.

And yet, interest rate reviews often get pushed to the bottom of the to-do list. In my 25 years of working with farmers, I’ve found four common reasons why these reviews don’t always happen when they should: time, complacency, fear of change, and lack of knowledge.

I completely understand that reviewing your interest rate might not always feel urgent, but in my latest blog, I share real-life examples of how taking the time to review has saved farmers thousands in the long run.

Click the link below to read more.

Click Here: Top 4 Reasons Farmers Avoid Reviewing Interest Rates

What’s Happening with Interest Rates?

The cash rate held steady in July at 3.85%.

Commonwealth Bank (CBA)
Anticipates 25 basis point cuts in August and September, taking the cash rate to 3.35% by the end of the year.

Westpac
Expects 25 basis point cuts in August and November, taking the cash rate to 3.35% by the end of the year. They have also forecast two additional 0.25% rate falls in Feb and May 2026.

National Australia Bank (NAB)
Predicts a 25 basis point cuts in August and November, taking the cash rate to 3.35% by the end of the year. They have also forecast another cut in Feb 2026.

ANZ
Predicts a 25 basis point cut in August and November taking the cash rate to 3.35% by late this year.

“The best time to plant a tree was 20 years ago. The second best time is now” – Chinese Proverb 

or

“The best time to review your interest rate was probably a few months ago. The second best time is now.” – Deb Purvis 🙂

Have a great day!!
Deb

Click here: To subscribe to our newsletter

Latest News

Strengthening Farm Fire Safety: CFS Farm Fire Units Program

The SA Country Fire Service (CFS) continues to support farmers through a comprehensive Farm Fire Unit (FFU) program, designed to improve firefighting readiness on farms.

Registering your FFU ensures you’re officially recognised and supported by CFS.

It gives you:

  • Vehicle ID stickers to help pass through roadblocks during an active fire,
  • Public liability insurance while responding to fires in coordination with CFS,
  • Timely incident updates and communication from emergency services.


Who’s Eligible?
The program is open to:

  • Primary producers and farm business owners with a functioning farm fire unit,
  • Landholders in regional SA who actively support fire protection efforts in their local area,
  • Farmers who own or are purchasing fire-fighting equipment, such as slip-on units, pumps, and water tanks.

If you meet the above and are located in South Australia, you may also be eligible for support through the Regional Capability Community Fund (Round 4), which offers:

  • Up to $10,000 reimbursement on approved equipment like pumps, hoses, slip-on units, PPE, and tanks (22,000L+).

The CFS also provides a Farm Fire Unit Handbook, packed with practical information on setting up and safely operating your unit.

Applications close August 8th.

Can you Gift Trust Assets in your Will? What Every Farmer and Family Business Owner Needs to Know

A recent article by Andreyev Lawyers highlighted the risks many business owners face when signing personal guarantees—often a standard part of loan or lease agreements. While they might feel like just another piece of paperwork, these guarantees can put personal assets like your home on the line if the business can’t repay.

Key Takeaways:

  • Personal guarantees make you personally liable if your business defaults.
  • They can apply even if you’ve left the business or didn’t directly benefit from the funds.
  • Many people don’t fully understand the long-term risks when they sign.
  • Guarantees can be difficult to remove, even when business circumstances change.
  • Legal advice is essential before signing, especially for directors or family businesses.

It’s a good reminder to read the fine print and seek advice before signing on the dotted line. A few minutes of legal input now could save a whole lot of heartache later.

Heavy Vehicle Workshops Rolling Out Across Regional SA

Grain Producers SA has teamed up with the National Heavy Vehicle Regulator (NHVR) to deliver a series of free workshops this August aimed at helping farmers better understand heavy vehicle compliance.

The confirmed workshop schedule is as follows:

With transport safety expert Bernie O’Hara leading the sessions, the workshops will cover everything from maintenance and load restraints to what you need to know about NHVR regulations — all tailored to the practical needs of grain and livestock producers.

Attendees will also be eligible to receive a free roadworthy inspection through a participating mechanic, helping take the guesswork out of getting your gear up to standard.

It’s a great opportunity for producers to boost confidence around compliance and keep things running safely and smoothly, both on and off the farm

Leave a Reply