Rainer on Leadership

Six Prudent Practices to Prepare Your Church Budget for a Potential Economic Recession

07.26.2022 - By Thom RainerPlay

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https://youtu.be/YW_hqAPlPaE

Interest rates are on the rise. The stock market recently entered into bear territory. How will a potential recession affect your church? Thom and Sam discuss six ways you can help prepare your church for an economic downturn. Discipleship cannot happen without stewardship, and your budget is a major way to steward the resources of the church.

* Start practicing zero-based budgeting.

* Project revenue before considering expenses.

* Set the budget slightly lower than your actual revenue from the previous year.

* Consider the impact of inflation on the personnel budget.

* Make sure you understand the timing of your expenses for cash flow purposes.

* Be careful with additional debt and new personnel.

 

Resources:

Another Gospel by Alisa Childers

Tyndale House Publishers

Grow Generosity 101 training by Church Growth Services

BELAY

Church Answers University

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