Eight Common Money Questions Asked by Pastors

I have informally counseled hundreds of ministers about financial matters. My background lends itself to such interaction. I have a business degree with a double major in finance and economics. I served as a corporate banker before answering the call to vocational ministry.  

In ministry I went to seminary and received two degrees. I served as pastor of four churches, and as dean of a seminary.

My life has consistently been the intersection of business and ministry. Indeed, my current position as president of LifeWay is the perfect example of that intersection.

The purpose of sharing my brief bio is not to brag, but to explain why ministers gravitate toward me on financial matters. Hundreds of ministers have sought my advice. I am humbled and happy to share my knowledge with these servants of God.

Allow me to share in this post some of the more common questions I have been asked. There are probably more than a hundred questions I omitted; these are simply the top eight I have been asked most frequently.

1. How do I broach the subject of getting an increase in my pay? Pastors and other ministers are typically very sensitive about this issue. They fear asking the question lest they appear lacking in faith or money hungry. The pastor must first determine if his pay is indeed well short of standards for his area and position. We discussed this issue in my previous blog post about pastors’ salaries. I then recommend he find a trusted friend in the church, preferably a leader and a businessperson, who can be both his mentor and guide for broaching this subject. Someone other than the pastor himself should speak to this issue.   Continue at Thom Rainer