HOmestead budget
This guide will walk you through how to set up and stick to a homestead budget because you can live this lifestyle without going into debt.
Starting a homestead doesn’t require large farm equipment or even a dozen or more acres in the backwoods. All you need is a change of perspective in how you live, a plan you can stick to, and a list of homesteading tips that you can incorporate into your daily life.
It was over 15 years ago that we began our homesteading transformation, although at the time we did not realize that was what we were doing.
It’s true we had a goal: to live on our own terms, to make more of what we needed, and to grow or raise as much food as we could.
What started as a lifestyle change turned into a completely different way of life. From the road, we look like everyone else, but once you drove down our long driveway, you would see signs of a homestead. Goats on the pasture, pigs rolling in the mud, chickens scratching near to the vegetable garden, and clothes drying on the line.
Starting a homestead is possible as long as you do one thing first. Set up a realistic homestead budget that will allow you to make this change without going into debt.
SETTING UP A HOMESTEAD BUDGET
Before we dive into the numbers, we need to do a bit of planning. You will want to know what your goals are for your homestead, not just the goals for someday but realistic goals that are broken down into different areas.
Step #1. Plan Your Goals
Make a list of each area you hope to have on your homestead. A few ideas are:
- Vegetable garden
- Orchard
- Chickens
- Rabbits
- Ducks
- Bees
- Goats and/or sheep
- Llamas and/or alpacas
- Pigs
- Cows
- Pasture
If you are just starting out I suggest you chose 3-4. You can always add on more later but keeping your outlook goals smaller will allow you to plan and implement without getting overwhelmed.
Step #2. List Each One Out
Dedicate a page for each area so you can strategize the startup and determine what you will need to maintain it. You can use a notebook for this or loose pages in a binder.
Step #3. Startup Costs
Once you have a page for each area, do a bit of research, so you have an idea of what it will cost to get things set up. For example, to raise chickens, you will need a coop, coop essentials, an enclosed run, and protection for the flock.
Depending on what you have on your property know will determine the cost to get started. Let’s look again at chickens.
- New coop from scratch – $200-$600
- Repurpose an existing out building – $50-150
- Enclosed run – $200-350
- Coop essentials – $150-$250
- Bedding and food – $40-$50
- Chicks – $3-5 a bird
I know that many of the prices listed are a range, but it will at least give you an idea of how much you want to save before purchasing chicks.
If you are considering non-animal areas such as a garden or orchard, you will need to know the supplies to set up the growing area and the costs of plants and seeds.
Step #4. Maintenance Costs
Next, you will want to know how much it will cost you to feed and care for each area. If it is livestock, you will need to have an idea of feed costs, health additives, as well as basic medical supplies.
For non-animals areas, you will need to know watering costs, fertilizer, and pest control.
The Backyard Homestead Seasonal Planner: What to Do & When to Do It in the Garden, Orchard, Barn, Pasture & Equipment Shed
The Backyard Homestead Guide to Raising Farm Animals: Choose the Best Breeds for Small-Space Farming, Produce Your Own Grass-Fed Meat, Gather Fresh … Rabbits, Goats, Sheep, Pigs, Cattle, & Bees40 Projects for Building Your Backyard Homestead: A Hands-on, Step-by-Step Sustainable-Living Guide (Creative Homeowner) Fences, Chicken Coops, Sheds, Gardening, and More for Becoming Self-Sufficient
Step #5. Where can you save?
As with all things, look for ways to cut costs on both the setup and the maintenance areas of your homestead budget.
Here are a few ideas:
- Visit yard sales to purchase garden tools.
- Go in with a friend and purchase chicks in bulk for a discount.
- Learn basic animal care from your vet so you can do more of it on your own.
- Turn an old shed into a pig shelter or chicken coop.
- Reuse building supplies for new livestock shelters.
- Make livestock feed instead of purchasing it.
- Feed supplements, herbs, and minerals to raise healthier and hardier animals.
- Barter is a skill in exchange for the use of a rototiller or farm tractor.
Step #6. Revisit and Adjust
At the start of each month, revisit your homestead budget to be sure you are staying on track with the numbers. Being aware of finances will help you to transform your setup without going into debt.
Debt is the worst thing you can do when setting up a homestead so be aware of your budget and do you best to stick to it.
It is better to make these changes slowly and stay on track than to jump in quickly, relying on credit cards to get things setup. Debt only adds to stress, and you are choosing this lifestyle for less stress, not more.
Living a self-reliant lifestyle is a great way to create a home and life that you love to wake up to. Being able to grow and raise our own food has been a gift both with our health and our happiness overall.
Yes, homesteading is work but the work is good and satisfying and being tired at the end of the day is the best way to get a good night’s reset.
Use this guide to set up your homestead budget and confidently begin working on your first area from your goals list.
