Date: Jun 30, 2003 [ 8: 20: 37]
Subject: Summary - Personal Finances
© 2003 BCP Harry Shelton Cole
Subject: Summary - Personal Finances
SUMMARY OF THE BAPTIST CHURCH PLANTING LIST
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Moderated and edited by Pastor Harry Shelton Cole
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Introduction: There are two great biblical truths that need to be carefully
discerned. One is in Ecclesiastes that mentions that "money answereth all
things" and the other is the advice to Timothy that the "love of money is
the root all evil." Proper stewardship will make or break a marriage. I
believe that in the ministry and in the oversight of the church proper
stewardship will make or break a ministry. The church planter would be
wise to pay careful attention to the counsel given in this summary of
financial advice.
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Baptist Church Planters List - Question of the Week
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In 1992 Leadership magazine did a survey in which they discovered that 70%
of pastor indicated that their compensation contributed to conflict in
their marriage. 22% of them in one survey feel forced to supplement their
church income.
Church planters need wise counsel in the area of finances. Please take the
time to answer the following question of the week.
What financial advice or counsel would you offer a church planter in the
area of: Debt? Income? Savings?
Please include any materials that you have that can become a resource for
this group and any book or material recommendations.
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Gene Springer is veteran church planter who is now pastoring in Iowa. He
details some of the most important advice that could be given for a church
planter. I believe this is his first response to the question of the week
since joining the list. I thank him for his participation
There is so much that could be said on this subject for it probably
takes more men out of the ministry than anything else. Having, as most
men, raised my family while starting our church there are very difficult
days. There are a couple of areas I would like to address.
1. Attitude. As with the world our problem so often isn't money but
our "love" for it. Being ever so thankful for what He has given rather
than becoming bitter for what we do not have will overcome a multitude of
desires. God has promised and will take care of our needs but has not
declared the same for our greeds.
2. Spending. If we would seek His leadership in what to spend as much
as we seek His help to cover what we already spent we would be much
better off. I believe most people don't have financial problems but
spending problems. Many of the "things" we try to justify in the
ministry could be done without; the same thing be true in our families.
3. Waiting. When we want something, we want it now. So often we miss
God's blessing and provision of an item because we get ahead of Him.
Waiting and doing without is many times God's way of revealing that it is
really from Him.
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Randy Roberts is a missionary to Costa Rica, a veteran church planter and
builder and is a personal friend. His advice is often sought by this
preacher and his advice on finances is sobering. Thanks Randy.
One of the requirements for becoming a B.B.F.I. Missionary, is that you are
debt free before coming up for approval. You may owe on a house and a car,
period. This is difficult on some and is the reason some chose not to go
under the Fellowship. I believe, that is one of the reason that BBFI
Missionaries have one of the highest success rates on the field. What
financial advice or counsel would I offer a Church Planter? Be debt free!
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Don Johnson brings a special insight from the NORTH, Canada that is.
Thanks Don for your input.
My wife and I have been church planting in Victoria, BC for 12 years. Our
church will celebrate its 11th anniversary the first Sunday of August. We
still only average about 35 in attendance, but we hope this year we will
see an increase.
I am a Canadian citizen, so we came up here unsupported at the beginning of
our ministry. I felt that I would be able to get the church going in my
spare time (Ha!) while I worked a secular job. After several years of
struggle, we realized we needed help and joined a mission board. Since then
we have been slowly building support and continuing to work at a secular
job, until last month. At the beginning of May, I moved out of my office,
and entered the ministry full time. We are still about four churches short
of full support, but we believe the Lord will provide those churches soon.
I say all that to give you a background on my response to the question. My
work has been as a Realtor for ten years then the last year and a half as a
Mortgage Broker. I have come to some very definite opinions about finances.
First of all, mission work (ALL church planting, in my view) should be
entered only when the missionary/church planter has raised adequate
support. The term adequate is certainly relative to the area you are
working in, but nevertheless, I know from experience how difficult the
ministry is when you are constantly plagued by money worries. I believe
that you should do research into the cost of living, create a budget that
reflects how much you think it will cost to live on your field, add a
certain amount for savings and education of your children, and then add
10-25% of the total to your monetary goal for support. IT ALWAYS WILL COST
MORE THAN YOU THINK.
Secondly, I think that you should have a goal of home ownership, unless
rent is cheaper than buying (payment wise, I mean.) That means scraping
together what you can for a down payment and getting into the market at
whatever the low end is for your area. Over time you will not be affected
by the rise of real estate values once you are in the market. The only
caveat I add to this is if rents are cheaper than mortgage payments, then
rent and invest the difference if you can.
Thirdly, AVOID CREDIT CARD AND DEPARTMENT STORE DEBT LIKE THE PLAGUE! I
think you should have at least one credit card, but you should use it only
in emergencies and pay it off immediately if not sooner. (I kid around with
my customers that I once thought credit cards were like hockey cards --
collect the whole set!! Just kidding, DON'T do it!) We once bought
furniture on the "No money down, pay in six months" plan. We actually paid
the furniture off before the payments kicked in, but when I paid it off, I
was paying off used furniture. That was not a very satisfying feeling at
all. It is much better to save the money and buy with cash. You should be
able to negotiate a better price that way too.
Finally, ALWAYS make your payments on time. I have seen countless credit
bureaus of young people who don't take bills seriously. The problem is, the
banks don't take them seriously when they really need the money.
I recently read an article on how to get rid of debt. The author said that
you should make the minimum required payment on all debts except the loan
or credit card that is for the lowest amount of principal. Pay as much as
you can on that low one to pay it off as quickly as possible. Then set to
work on the next lowest one with one less payment to worry about, and so on.
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Jerry Wilhite is currently an associate at Lehigh Valley Baptist in
Pennsylvania but is a veteran at church planting. Faith is a crucial
element in church planting but it is also an essential element in all
facets of a Christians life. Jerry offers some sound advice and you don't
even have to be a church planter to use it. Thanks for responding.
Eleven years ago we went to the Pocono area of Pennsylvania to take a group
of 8 adults and plant a church. At the time we had 2 children with a
third one on the way, due shortly after our arrival. Our base church took
care of my health insurance and sent us $70/week. The nucleus of 8 cared
for my housing ($900/year) plus utilities. Yes, $900 per year in a fully
furnished, 4 bedroom house, owned by a lost man who lived out of town.
The Lord provided financial miracle after miracle throughout our 5+ years
there. What a joy to trust God week by week. Any extra money that came
in helped with our day to day living or we would put it away in a mutual
fund. The Lord blessed as He always does when we do His work in His way.
I am thankful that I didn't go into the work, though, in debt. Behind me
was a B.A. in Pastoral Studies and an M.Div in Theology. I stretched my
grad school training out over 5 years working two part time jobs so that
I could finish without the entanglement of debt which could have been a
deterrent in our church planting efforts. I did go to school with some
who felt indebtedness was the direction to take in funding their
schooling. I personally believe that the reason some were not able to
pick up and leave to follow God's calling to plant a church was due to
the entanglement of debt.
Now 11 years later, and 8 children later we can still say that it is a
joy to be out of debt.
God has moved us on to a larger church where our needs are now being met
through a larger constituency of members. He still supplies freely in
special ways: food, clothes, babysitting, the Pentium at which I am
sitting (free).
Advice from our perspective:
(1) Use a budget and stick to it.
(2) Be generous in your tithe (bennies and housing included), missions,
schooling, sacrificial Sunday, others' needs.
(3) Shop smart. My wife uses great wisdom in grocery shopping which saves
us a bundle.
(4) Put money away each week for savings, emergencies, etc.
(5) Make sure Mommy is a keeper at home. Thankfully, my wife has never had
to work outside our home in 16 years of marriage. We still live on one
income, while many families around us have 3,4,5 incomes and still can't
make ends meet.
(6) Pray in needs
We sing "He's able" but seldom do we live it.
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Ed DeVries is an Evangelist out of Shady Acres Baptist Church in Houston
and is contemplating the call of God to start a new church. He certainly
has the experience and season of a veteran church planter. This is his
first post and I appreciate his brief but poignant post.
Do not use plastic. Pay cash or write checks for everything.
God said he would supply your needs. If he has not supplied the money it
is not a need.
As for the church. When it is time to build: If God is in it He will
provide funds. Do not borrow.
right to borrow money to build a building? This question will have to wait
for a later time but I am interested in hearing from the list on this.>>
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Pastor John Waldrip of Monrovia, CA, is a veteran to this list and a
welcomed contributor. He makes you think. I like that. Thanks John for
your input to the question of the week.
I suppose I'm a little bit unorthodox in some respects regarding what I would
advise a Church planter, recognizing that I am not a Church planter and do
not believer I have been equipped by God to plant Churches.
#1 Since I already had an engineering degree when I went to Bible college I
am of the opinion that most young men are ill served and underprepared, as
well as being immature, who do not already have a college education when they
go to Bible college or seminary or are trained for the ministry in their home
Church (which I personally think is more Scriptural and beneficial). Such
educational background stands a man in good stead to earn himself a living,
as Paul did when he planted Churches, and as Peter would have don't but for
the likelihood that his Jewish converts to Christ were trained by their OT
background to support God's men.
#2 With a good day job (made possible by a college degree, and what pastor
material should not be academically enough inclined to get a college degree
and work an office or white collar job?) the financial pressure is off.
After all, indigenous Church planting costs no money out of pocket to the
planter. The preacher should be able to support his wife and kids on what
his job earns for him. The tithes and offerings of the new converts should
not, in my opinion, be initially used for that pastor's support (taking a
hint from Paul's approach in Corinth), but for facilities and things such as
that.
If the Church planter can raise support to supplement his job-earned income,
all the better. However, most Churches prefer to support the Church planter
for a specific time period unless he is one of their regular missionaries.
Depending on his job-earned income, the Church planter can move deliberately
toward achieving full-time status with his new Church without feeling rushed
by the prospect of support ending quickly.
I am not a Church planter. But the idea of getting a Church up and running
in a year or two doesn't seem practical to me, in light of the dangers of
depending on unproven new converts and the ups and downs in attendance and
giving that necessarily result from making appropriate stands to establish
you position and convictions to your people.
Further, with the Church planter earning his own income and raising up a
Church that is truly indigenous, he has no need to go into debt, is quite
able to appropriately save for his kid's college and family emergencies, etc.
All of this changes, of course, if you are supporting a man who does nothing
but plant Churches and raise up pastors to take over for him when he moves
on. That guy should be supported and supported well, due to the difficulties
of getting good employment no matter how qualified you are as you get older.
professional makes excellent church planting material. However,
circumstances are rarely perfect and situations vary. There are pro's and
con's to the bi-vocational model of church planting but John is absolutely
right about the mentality of Home Missions being less than accepted as well
as Foreign Missions. That mentality is changing, at least it is in the
Northeast and Home Missions and Church Planting is being brought to the
forefront of respectability by great men in our movement like Dr. Perryman>>
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Jeryl L. Bennett is a wise and experienced preacher and church planter and
has been on this list from almost the beginning. He pastors now DeQuincy,
Louisiana. Thanks preacher for your help.
Make sure your wife and family are taken care of. It is wonderful to work a
job and give much income to the church, but that deprives the family of
some enjoyments. It also doesn't teach the church that they need to meet
the needs.
I feel it very important that a young church planter establish a retirement
account at a very early age in the ministry. The cost will not be
prohibitive. The church (even a fledgling church) could pay that premium as
a mission expense.
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Dr. Jim Preston should be running this list. He is a 5 star general in
church planting and his experience far surpasses everyone I know. I have
read his book and materials and he is a wise man. He is a good man. The
following tips are worth their number in goal bullion. Thanks Dr. Preston
for your sage advice.
Debt can ruin our testimony limit our ability to serve the Lord.
Volumes could, have should be written about proper use of finances. A
church planter or any pastor should settle financial issues in their own
life before attempting to lead a church. 1 Tim 3:5 (For if a man know not
how to rule his own house, how shall he take care of the church of God?)
Most people who have a difficult time managing money are like people who
are excessively over weight. It is easier to blame their circumstances
others for their problem.
We all know that some people have real physical problems that cause the
weight problem. However, most have a weight problem because they like food
eat to much. Some people get into financial problems because they have
had uncontrolled financial disasters in their life. Most people, however,
have financial problems because they simply spend to much.
Few practical suggestions:
1. Make a budget every month stay with it.
2. Set a date you want to be debt free and do what you must to reach your
goal.
3. Do not spend what you don't have.
4. Learn to wait until you can pay with cash.
5. Set up an automatic savings account. Preferably with a mutual fund
company. Some will take as little as $50.00 per month. DO this, do this,
do this. Do make excuses. Let your money make money for you. I have
placed every raise for the past 12 years into savings. I never really saw
them, I never really missed them. I put all speaking gifts and other
extras into savings. I now think twice about spending my own money on
purchases rather than the credit cards money. Make it difficult to spend
your own money. If you must go to bank to make a withdrawal
rather that writing a check you will spend less money.
6. Tithe faithfully (even preachers should do this). Give every week to
missions.
7. Cut up credit cards unless you can pay in full at the end of every month.
8. Find a credit card that has no annual fee.
9. Buy off season for next season. By marked down summer cloths in
December and winter cloths in April.
10. Bulk buy food when on sale. Eat out less often. Plan a meal menu for
the month in advance. Prepare meals from scratch. Prepackaged meals cost
more. Never shop when hungry. Buy last years items.
11. Drive your car after it is paid for, as many years as possible. Keep
makings payments only this time put the money in the bank for future down
payment. Sell it your self, never trade it in. Never pay asking price for
another vehicle. Shop for best interest. Never take five years to pay off
loan. If you must, buy a cheaper car in order to pay it off sooner.
12. Until debt free, move into a smaller, less expensive house. In most of
the world four or five families could live in the space every family in
America occupies. Space is a privilege not a right.
13. Take a part time job. Use money totally after tithe for debt
retirement. Best income comes from staring your own business. Find a
service you can do that is needed and want by others. Be creative. Mow
lawns, bake pies for restaurants, Wash windows for down town stores, clean,
paint houses, wash & iron other peoples cloths, Wash & wax cars.
14. Have a yard sale. Use money totally for debt retirement.
15. Find someone who manages their money well and ask them to set down with
you and help you. Do what they ask or tell you to do. No excuses.
16. Do not be satisfied with anything but debt free living.
17. Pay of bills that charge no interest last.
18. Pay everyone something. Be honest. Tell them when you can't pay in
full and do what you promise. An unpaid bill that you promised to pay is
a lie. See it as a sin just like stealing.
19. Never buy expensive items without sleeping on it at least one night.
Never buy from a salesman who says you must buy today, to get this price.
20. Learn to borrow and rent when possible. Use free services such as the
public library to read magazines and news papers. Wash your car at home.
Do your own oil changes.
21. 1 Tim 6:8-10 And having food and raiment let us be therewith content.
But they that will be rich fall into temptation and a snare, and into many
foolish and hurtful lusts, which drown men in destruction and perdition.
For the love of money is the root of all evil: which while some coveted
after, they have erred from the faith, and pierced themselves through with
many sorrows.
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Ed Fort is a church planter in Chicago. I appreciate his clear and to the
point answers. Thanks Ed.
This is a most difficult question as there could be many different answers
depending on your situation and background and area of service. Here is my
imput:
1. You can raise financial support but I guarantee you that up north it
should
be longer than for six months which is the historical time frame.
Understanding that your mission church is church ordained and you're church
sent and directly under the supervision of your Pastor... He can vouch for
your work and churches can support you for a longer period of time and drop
support when your Pastor suggests or when you organize. Many churches
organize too early.
Missions in the inner city and the more difficult areas are supported just
like Foreign missionaries >>
2. The 2nd will be the route of most church planters and that is "tent
making"
That is to work a full time job as you plant the church. My suggestion is to
work with a contractor such as a Painter, Plumber, Carpenter, Electrician,
Dry Wall Installer etc... and learn how to start your own contracting
business. It will accomplish 2 things for you. #1- It'll provide an income
and allow you flexible time #2- You can make contacts as you work. Tell them
that you are a preacher and give them Gospel Materials. We have won a few
people to Christ like this and then we've even gotten a few into our services
and one family was very faithful until they moved away.
Minimum wage is $5 an hour x 40 = $200 a week or $40 a day. You could see a
house with a broken window pane and knock on the door and say sir or ma'am, I
can replace that window for $55 and re-caulk it. They say yes then you say. I
need $25 down and the $30 when I finish but I need to leave my tools here if
that is OK with you. That will assure them you'll return. Remove the old
pane. You only need a hammer, chisel, pliers and screw driver but you could
add a drill purchased from a Pawn Shop in a $5 Wal-Mart tool box. Go to any
hardware store and buy a pane and a small bag of caulk $10 at the most and
replace the window. An hour's work and $45 cash. More than a day's work at a
factory and you still have 7 hours free.
That is just one example. You can trim limbs, replace one rotten step, rake
leaves, cut grass, repair gutters & Downspouts, etc...
3. The big job is to budget:
If you would work in a factory, then every dollar over 40 goes into a
rainy day pool that you can monthly transfer say 25% of into a special Misc
pool for emergency problems or just necessary items above your budget. The
remaining 75% is still in the RD pool. when you don't make $40 in a day then
retract the remainder from the RDP but try to rough it and not pull anything
from it. As you track yourself for six months you might be able to raise your
base above $40 a day but NEVER overdo it or you'll be flat busted and working
the 8-5 $200 a week factory job.
There are lots of things you could do besides that such as Computer work,
Concrete repair, Sewing, Typing, Art Design etc... Whatever your ability is.
Don't be afraid to go to school and learn something or work for someone in a
business that you like. The Chinese, Vietnamese and Rumanians as well as
others have been doing it 100 years in this country. Learn a trade and go
into business. There is one exception:
You are a preacher of the Gospel. As such you are not preacher, mama,
papa, bible college or burden called..... YOU ARE GOD CALLED... and must
preach to the failing of everything else in this material life. It is not
understood fully by anyone else except a true God sent God called man of God
who'll chuck everything else for the Lord's work. You must be willing to
count all Dung for Christ and drop the business at the drop of a hat if the
Lord so desired as the church became financially stable and could take you on
full time. There is so much more and I'd be willing to help if I could.
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