About three years into my first ministry job, during our annual stewardship weekend, our pastor announced that there would be a meeting after Mass where our business manager would open the books and give a detailed breakdown of the parish’s health. I decided I would attend.
It was an odd decision because I was not a money guy, my budget was a mess, and money always intimidated me. As I sat in that meeting reviewing the report and listening to the presentation, my perspective began to change. It became clearer that if I knew how the parish operated, I could become a better steward of the youth ministry.
Finances are not the most attractive thing for those of us in ministry. After all, no one ever works for the local Church to get rich. But, money is an essential tool because it is one that not only leverages the resources of your ministry, but
IMPROVE YOUR FINANCIAL IQ
Finances could be intimidating, significantly, if you grew up in a household where money was rarely discussed. Investing, inflation and dividends were all words that never made sense to me. But, as my wife and I prepared for marriage, it was clear that both of us were a trainwreck and needed to wise up. We decided to attend a couple of financial workshops our parish was hosting. The fears subsided, and a new interest emerged.
I’m still not a money guru; however, my financial IQ has grown leaps and bounds because I have been willing to take the time to learn more about money. I’ve gone to several workshops and developed relationships with people who know money better than me.
If I’m going to dedicate my life to ministry, that means I will be living on less than other industries. If I want to support my family and do what I love, that means knowing how to be a good steward of the money God has given me.
BEFRIEND THE BUSINESS MANAGER
While you do not need to know about the day-to-day financial responsibilities of the parish, it is essential to have an idea of how they work. The person who can guide you the best is your parish business manager, accountant, or bookkeeper, and they should know how everything works and will be good at helping you get a grasp on your budget.
Get to know them personally; you don’t have to be best friends with them, but building a rapport that goes beyond the question, “Can we afford this?” will go a long way. Don’t be afraid to ask them questions, especially when it involves funding your ministry. Ask them about higher costing initiatives even if you do not have to. You want them to see that you are trustworthy with money. That way, when you ask for a budget increase or have to negotiate to spend, they’ll take you seriously because they see that you take the church’s money seriously.
COUNT THE COST OF YOUR MINISTRY
While an effective ministry can run on a shoe-string budget, it still needs some money to function. When you count the cost of your ministry, you can answer the question, “Is this working?” with a little more confidence. You do that by looking at what is working and what is not in your ministry. Identify how much you are spending to have those different components run.
If there is one area of your ministry that costs a lot but lacks results, it’s a sign that you have to let it go or make some changes. One of those changes might be investing in newer resources, increasing a person from part-time to full-time or reallocating finances elsewhere. But, you won’t know where the money goes if you don’t know how much things cost.
Money is not the enemy of ministry, it is a tool, and as one will find in the Bible, even Jesus wants us to be shrewd with it. Increase your financial IQ, partner with the experts, and become the steward your parish needs to continue to reach others for Christ.
How would you describe your current relationship with money and finances?