3 Financial Mistakes Which Will Sink Pastors And Their Ministry

3 Financial Mistakes Which Will Sink Pastors And Their Ministry

One of the things that will sink a pastor’s ministry faster than nearly anything else is a mishandling of the church finances. In today’s climate, there is no margin for error when it comes to how you as a church leader handle financial decisions.
And it is not just the choices you make with church finances. Every aspect of your financial life and leadership is under the microscope when you are in ministry.  This is why I recommend to all pastors and church leaders I interact with the team at MAG Bookkeeping.
Led by Bryan Miles and his wife Shannon,  MAG Bookkeeping is an organization which helps churches maintain financial accountability.  Once again, there is no one I recommend more.  Click the links and image provided to learn more about this great organization.
The following are 3 Financial Mistakes Which Will Sink Pastors And Their Ministry MAG consistently sees church leaders making, and more importantly, how to avoid them.  Please read their thoughts and guest blog below:

1. Not being a financial leader. There’s a reason the Bible has so many verses dealing with money – the writers knew it would be a central issue in our lives here on Earth. As a senior leader in your church, you need to be directing your congregation to what the Bible says about how they should handle their money. Messages around generosity and giving should be frequently integrated into your ministry, not just once a year when you’re falling short of your budgeted giving amount or when the fiscal year is ending. You as the leader need to model generosity to your congregation as well.
2. Not managing personal finances well. When you’re speaking to your congregation about generosity and giving, do you understand that many (if not most) of the people hearing you are staggering under a huge weight of personal debt? Maybe they’d like to increase their giving to your ministry, but they don’t see any way to make that happen with their personal financial obligations. And if you as their spiritual leader are in the same place, you can’t exactly ask them to increase their giving if you’re not able to do it yourself. Ministry leaders, for better or worse, are going to have every aspect of their lives – including their personal finances – heavily scrutinized and often judged in the court of public opinion. Not having your personal finances in order could lead to a huge explosion that will sink your ministry efforts.
3. Not having proper oversight. Church finances are complex – as are the finances of church leaders. Even people with decades of experience in tax law and accounting may not understand the nuances of church finance. Find the right advisors and experts to help you manage both your personal and church finances. Check references, check experiences, and check the rules yourself so you have at least a working understanding of the law to compare against the advice you receive. If you need help finding those resources, contact us at MAG Bookkeeping – we’re happy to help point you in the right directions.

We really do believe, as you do, that the local church is the most important thing in the world. It’s the tool God has chosen to spread His gospel, and the people through which He’s working day in and day out. And because it’s so important, it’s crucial for you as a leader to steward it well. We’re here to help you do that at MAG Bookkeeping – just let us know!