The Church and Financial Stress
When our economy entered a recession in 2008, the church suffered greatly. A Christianity Today International survey from 2009 revealed that 1,168 churches said weekly contributions went down 2 percent or more during the economic slump.
The truth is that this issue of decreased giving in the church has been present for a while, as contributions to the church have been on a constant decrease over the years.
Also, the problem persists as it is difficult for members to contribute as many American households fall into the category of living paycheck to paycheck.
With the recent pandemic, many churches may fear what will happen if we enter a recession again?
Many ministries have turned to creative measures to stay connected to their members, and that includes strategizing means to maintain finances. Some internet-based app suggestions for keeping up with normal offering schedules are apps such as Givelify or Cashapp, so members can give from their homes.
However, if your church is already in financial stress, the best thing you can do is be honest about it. Usually, leaders often hesitate to discuss their worries for fear of alarming church members and stopping giving. You should express specific needs if urgent, so your congregation can learn what they can do to help. Also, assure them that you are taking matters and finances very seriously, and working on preventing the same situation from occurring again in the future.
Quick Tips to Bounce Back
After you resolve your immediate bills and expenses, it is important to start strategizing a long-term financial plan. Two ways to get started on this financial plan are:
- Saving three to six months of operating expenses and set it aside for emergencies: We all know this thing called life comes with situations and/or setbacks that can occur unexpectedly. For example, look at the pandemic we are currently experiencing! If your church has an emergency fund put in place, it is easier to manage bills and expenses when unexpected events occur.
- Invest in your team: Pay your staff the best that you can afford! Most don’t come into ministry for the money, but rather to use their skill sets to build up the Kingdom of God. However, this does not mean that they shouldn’t be paid fairly if the church can allow for market-price salary or wages in the budget.
Recovering from financial setbacks in the church is not always easy, that is why Missions of Success is here to help you and your ministry.
Contact us at email@example.com.