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The more you plan ahead for those times when you have extra income from improved commodity prices, the more confident you feel when making decisions about how to best use the money.
Having extra income for your farm or ranch is a blessing given the fluctuations in commodity prices. When the day comes, though, you feel uncertain about how to best use the cash. Should you pay off debt, invest the money, or put it in savings?
In the bigger picture, all three options offer valuable benefits to your operations. Yet, on a smaller scale, each option also has risks and disadvantages. This is why making the decision is so challenging for farm and ranch operators like you.
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