A recent survey found that 29% of pastors have no funds in savings. In addition, only 14% have received financial training in seminary and only 38% had financial training in college. Only 23% are completely confident in managing their finances, while 46% are confident in managing their church finances.
Why this story matters for church leaders:
Half of the pastors today could face a difficult financial situation and may need to make changes if they want to support their families in the future.
- Are you above or below average? About half of pastors make over $50,000 and have congregations over 100 members, but will membership declines put their salaries into jeopardy?
- Do you have money saved? The majority of pastors are struggling to save, 29% have no savings and 46% have less than $20,000 saved. What changes can you make to increase your savings now?
- A secret problem. Only 5% of pastors have confided with a staff member about their financial worries. Are there ways to have better conversations about this?
Are there conversations you need to have with your family or church elders about your financial stability and its impact on your ministry?