Some Thoughts About Money in Hard Times

Some Thoughts about Money in Hard Times

I receive occasional newsletters from the Lake Institute on Faith and Giving. They are without exception wise counsel. I’d like to pass some of their recent insights along to you. In their recent newsletter, Insights on Faith and Giving, they report the following:

Tips for Prudent Financial Planning in 2010

In this still uncertain climate, the prospect of planning your 2010 budget may seem a daunting task. However, our work with religious organizations allows us to interact with congregations of all shapes and sizes from around the United States. And as the taboo subject of "money" has increasingly become a topic of major concern, many have told us that the recession has provided them with opportunities to reassess their core missions, implement necessary changes, and learn all they can about congregational finances. Below you will find a handful of the tips that have emerged out of our conversations with congregations over the past year.

• Given the economic uncertainty of 2010, pursue a cash-and-carry philosophy in your budgeting and spending. If you don't have the cash, you can't afford the expenditure.
• Spend according to your priorities! Let your core mission values shape your expenditures.
• Keep your members informed as to your financial status; fiscal transparency and administrative accountability are pivotal to the creation of a congregational culture of generosity.
• Good theology is the gateway to sound economics. Jesus put a priority on caring for the homeless, the poor, the jobless, the sick etc.
• Be a good neighbor to the hurting in your community.
• Don't beg for money; celebrate what you have and are doing.
• Dare to birth hope amidst economic sobriety by telling heart-touching stories as to the difference you are making with what you have.[1]

I think all these tips are good, but I’m particularly impressed with the second and fourth tips. Setting priorities is always an important task for church leadership, but it’s more important now in tight economic times than ever. Let your priorities guide your allocation of budget resources.

Maybe less obvious, but in my opinion more important, is allowing good theology to lead you to good economics. Put another way, our theology ought to shape our priorities, even – maybe especially – in tough times. I think the Lake Institute folk are reminding us that difficult economic times tempt us to restrict our vision of what God is doing in the world around us. They invite us to think principally of ourselves and our own self preservation. But Jesus called us to “go into the world, making disciples and teaching” (Matt 28:19-20). A theology responsive to Jesus’ call always reminds us that the church exists not to preserve itself but to follow Christ as Christ works in the world.

By the way, I would commend the Lake Institute to you, and encourage you to explore their website, philanthropy.iupui.edu/lakefamilyinstitute. You can sign up to receive their newsletter while you’re there.

[1] Source: Insights on Faith and Giving, philanthropy.iupui.edu/lakefamilyinstitute.