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Simple Tactics to Make the Most of Your Ministry Dollars
When money is tight, remember this: financial success comes from keeping spending under control. While it's seldom easy to reduce expenses, careful planning and determined effort will work wonders, even during the current recession.
Here are a few of the best tactics you can take right away:
Eliminate as many expenses as possible. Most ministries struggle to prioritize when money is tight but once you discover what you need to do, do it quickly. If you need help, ask a member who is also a successful business person to help you clarify and evaluate your options. They often have objective insights you need but have a hard time seeing when you're under pressure.
1. Delay or reduce as many expenses as possible. If necessary, ask your creditors for a payment plan. Many will be happy to help.
2. Carefully follow a realistic ministry spending plan (AKA, "Budget"). Base all ministry spending on the church's current income, not your past expenses. Be tough now and, when [attendee] giving increases (and it will), you can reevaluate and possibly readjust. Learn all you can through the tough times you are going through because they will make you a better leader for the rest of your life.
3. Make your ministry's financial needs clear and simply ask people to give what they can. Always avoid "guilt trips" because giving is a grace (gift). While a significant number of people may be struggling with reduced income, others can "step up" and help. Read 2 Cor. 8:10-15 for fresh strength from wonderful examples of faith. As the Lord leads, keep giving to other ministries, too. This is the biblical pattern.
4. Pay your bills on time. Your integrity is at stake and God will not bless you if you ignore or stiff your creditors. If your ministry truly can't afford to pay its mortgage, utilities, or other essentials, do all you can and then talk honestly and respectfully to your creditors.
5. Emphasize fellowship and volunteering more than ever. Ministry takes time and effort more than it takes money. When your people know that money is tight, they will appreciate your efforts to cut back or eliminate "church-sponsored expenses."
6. Commit your heart and your plans to the Lord. You ministry needs Divine Favor more than it needs money. The Lord will guide you and you will develop a greater testimony of faith, wisdom and perseverance that will empower your ministry in more ways that you can imagine.
Kregg Hood
Senior Vice President
Loan & Capital Solutions