Survey Shows Bleak State of Pastors' Financial Health - 'Church Finance Today' Describes Ways Churches Can Help
Contact: Sandra Hoekstra-Lower, 630-260-6200 ext. 4224
CAROL STREAM, Ill., Aug. 16, 2016 /
Christian Newswire/ -- A survey by the National Association of Evangelicals reveals that the majority of pastors lack confidence when dealing with church finances, have no formal financial training, and many have little money set aside in personal savings.
The survey included responses from over 4,000 senior pastors, 55 percent of whom had congregations with fewer than 100 people.
The survey reveals that 30 percent of pastors have student loan debt averaging $36,000; 33 percent have less than $10,000 in retirement funds; and 29 percent have no retirement savings.
"Any church strategy to help deal with the challenges of pastors and personal finances should have three essential parts: increasing awareness; building a collaborative environment; and raising the financial education level for pastors, leaders, and laity," writes Lee Dean in the September issue of
Church Finance Today.
The survey also found that the majority of pastors received no formal financial training in college or seminary.
Only a small percentage (14%) of pastors said that they received any financial training in seminary, and less than 4 in 10 (38%) reported that they received financial training in undergraduate studies.
Churches can help pastor deal with these financial challenges. The September issue of
Church Finance Today describes ways this can be done.
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Church Finance Today. This monthly publication keeps church treasurers and bookkeepers informed with timely and practical information on issues all churches face when managing money: internal controls, compensation, reporting, and budgeting.
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