In my post How to Spend the Money I laid out four categories of spending as well as recommended percentages for each category. Now I want to talk about why these categories and recommended percentages have been so helpful to me. It helps your board of directors determine an appropriate pay package for you. Your board will decide your base salary, benefits (i.e. health insurance, retirement) and bonuses (i.e. like an end of year performance based bonus where you can earn up to 5% of your base … [Read more...]

When we first started New Day, among other things, I was contemplating this question "How will we spend the money that God entrusts us with?" In the realm of personal finance I knew of recommended percentages for the various categories within your budget, but I knew of no such resource for church finance until I came across a book called Money Matters in Church: A Practical Guide for Leaders by Aubrey Malphurs and Steve Stroope. In this book the authors give you four main categories of spending … [Read more...]