Are You Confident With Your Budget?

How satisfied are you with your budget for the upcoming fiscal year? If you are like me it’s one of the more stressful tasks you take on as a youth minister. But, it’s something we have to do because a healthy budget is a huge part of a healthy ministry.

If you aren’t a money or numbers person it can be very overwhelming. I’m one of those people that look at spreadsheets and the screen blurs. If you want to gain more confidence and own your budget like a boss then you are going to have to:

BUILD A RAPPORT WITH THE BUSINESS MANAGER

The first time I looked at a budget I was hit with a wave of questions:

• What do these numbers mean?
• What happens if I overspend in one area and not in the other?
• If something is a part of this area and that area how do I expense it?
• Am I going to get in trouble if I mess this up?

The person who is going to help you answer those question is your church bookkeeper or finance director. The ideal situation is when the money person sits down with you and explains everything; however, you might need to take the initiative.

Don’t be afraid to come up with descriptions, that you both understand for each code. Have them break it down

The church business manager, finance director or bookkeeper is one of your best resources. They aren’t there to police you, but make sure that the church’s money is used in the best way possible.

DELEGATE RESPONSIBILITY TO THOSE WHO SEE MONEY FOR WHAT IT IS

If you were running business chances are you would need to hire an accountant and eventually a CFO. Granted as a youth minister you don’t have the capacity, but you can increase it by recruiting volunteers who see money for what it is…a tool.

There are people in your parish who are retired bookkeepers, accountants, or financial advisors who will be able to give you insight on:

• Where to spend your money.
• Opportunities, resources, and experiences with the best return on investment.
• Best practices to tracking the books and your finances.

If you don’t know where to look as your church’s business manager. Make sure they are okay with someone assisting you. Chances are they’re going to like the fact that someone with experience is assisting you along the way.

FIND A PERSONAL FINANCIAL GURU TO INCREASE YOUR CONFIDENCE

Personal finances are linked to how you manage your ministry’s budget. If you lack confidence or knowledge with your own budget, you can’t expect to master it at work. To increase your confidence:

• Attend a financial workshop. (I recommend Financial Peace University)
• Look at finding a financial coach or advisor.

If you can’t afford either look for someone in your parish that has been wise with their money. Sit down with them and ask them what they’ve done to be financially secure. Discover their best practices and apply them to your life.

Surround yourself with experts, and gain the knowledge so that you can build the confidence that is needed. When you can own your budget like a boss you can extend the capacity of your ministry to new heights.