Responding to Financial Stress

It is not easy for small congregations to provide adequate salaries for full-time pastors. It is interesting to note that clergy understand the challenge and recognize that most of their congregations are doing what they can under the circumstances.

According to one survey, most pastors consider their present compensation package “fair and reasonable” given the circumstances of the congregation (“yes, definitely,” 24%; “yes,” 36%; “yes, probably,” 24%). Similar percentages are “very satisfied” (16%), “satisfied” (48%), or “somewhat satisfied” (27%) with their compensation package.

CREATIVE FINANCIAL PACKAGEES

Many congregations and pastors have developed some creative ways to ease the financial stress.

More than one in three respondents receive reimbursement from their congregation or presbytery for medical or prescription deductibles (37%), and similar numbers (39%) have a flexible spending account for paying out-of-pocket medical costs. Somewhat fewer have a long-term care insurance policy (21%). Flexible spending accounts for paying for medical expenditures and long term insurance policies are ways that congregations can help with non-taxable compensation.

Most respondents in the survey have attended a financial planning seminar, including a majority who have attended one offered by the Board of Pensions (51%). An overlapping 40% have taken such a seminar from a personal professional financial planner.

JESUS TALKED A LOT ABOUT MONEY

There is a reason why Jesus talked more about wealth than any other subject. Our response to financial issues can be a significant barrier in our financial and spiritual journey. At the same time, if we see our use of resources as part of our faith journey, it can also be an appropriate witness.

THIS IS AN EXCERPT FROM CLERGY FINANCIAL HEALTH WHICH IS NOW AVAILABLE ON AMAZON.  

 http://bit.ly/ClergyFinancialHealth