It’s easy to get bogged down with the day-to-day chores of running a dairy rather than keeping an eye on the farm’s overall financial health.

So, it’s helpful to have a list of warning signs that can alert you to financial problems. According to David Kohl, professor of agricultural and applied economics at Virginia Tech, those warning signs include:

1. A buildup of accounts payable, supplier credit, or an increase in overdrafts at the bank.

2. Credit cards with climbing balances. Or, an increase in the number of credit cards used.

3. Rolling over an operating line of credit into longer-term loans every three to five years.

4. Unpaid real estate taxes or income taxes.

5. Insurance coverage which has lapsed due to non-payment.

6. Borrowing money from friends or family without setting up a specific payback arrangement.

7. Always paying employees late or not paying employees at all.

8. Debts from gambling.

9. Five or more lines of credit.

10. A continual need to get money quickly.

Make a quick evaluation of your own business. If you discover any of these warning signs in your business, talk to your financial adviser and develop a plan to keep everything afloat.