About Me

My photo
My heart beats for love. I want to be different. I want to be who I am called to be. WORTHY and LOVED!

Monday, August 8, 2016

#healthypastor - Finances

  No one likes to talk about money. Period. We like to think that finances are a private matter and how we spend our money doesn't effect other people, but that simply isn't true. Far too many pastors find themselves knee deep in debt, not knowing where to turn.
   It wasn't until I arrived at my current appointment that I could firmly say that the churches I served handled my pay correctly. I could tell you stories that would make you cringe. Combine that with the fact that pastors do not make much, especially when taken in the context of the level of education we need to have, our different tax categories, and a growing number of congregations that struggle to afford to pay their pastors and you have the perfect storm. 
   Many of the above listed factors are beyond our personal control. I am at the minimum salary for my years of service, because that is what my congregations can afford. But there are some choices I need to make in order to stay healthy financially. Whenever I receive a raise, I put more towards my personal contribution to my pension. It is my goal to be as close to debt free in the next 6-12 months as I can be, by paying as much towards my outstanding debt as what is feasible. I put 10 percent of my pay check into savings and give 10 percent as a tithe to the local church. In addition, I try to make one small contribution per month to a charity of my choice in order to support their wonderful work. I try not to live beyond my means - I don't get new phones or cars until the old ones are no longer usable. I have a great accountant who understands the complexities of tax law for pastors and helps me navigate any confusing points, both so that I understand personally and so I can explain it to my congregations as needed.
   We need to be in a place where we can talk about finances and encourage each other to live healthy financial lives. This may be one of the hardest changes we need to make, but it is so important so that we can free from the stress that finances can bring. 

No comments: