__I pastored two great churches in Ohio, and I would gladly return to either one today to thank them for trusting a young pastor to lead them. At the same time, I look back now and wish I had been more honest with them about my salary needs. Here's why:__

#### 1. I wrongly equated a lower salary with godliness.

Every year, I was willing to sacrifice because I assumed that was what a pastor was to do. I still believe that we must lead sacrificially, but I no longer assume that godliness = an insufficient income.

#### 2. My salary and benefits package was likely below the national average.

Three decades ago, it wasn’t as easy to get information about pastor and staff compensation. My anecdotal evidence and personal discussions, however, suggested then that my compensation was low for a church our size. I don’t think my church would have wanted to be less than average.

#### 3. I probably hurt my family.

In my single years, I didn’t worry much if I struggled financially. I fretted more after I got married, but I was still unwilling to share that concern with my church leaders. My wife then had to sacrifice with me.

#### 4. I would have had no shame in asking.

That is, I wasn’t a lazy leader simply wanting more money. I worked very hard, and I think I would have honestly earned the increase.

#### 5. My church likely would have increased my salary.

They were always willing to discuss matters with me, and they seldom didn’t follow my lead. My hunch is that they would have heard my request and adjusted my income. If I had just asked….

#### 6. I didn’t help the next pastor much.

What is a sacrificial income for one pastor often becomes a low starting point for the next pastor. My sacrificial thinking could have easily become the expectation for future pastors.

#### 7. I could have built the request around conversations about a pastor’s overall salary/benefit agreement.

As a young pastor, I knew nothing about self-employment taxes, housing allowance, etc. My church didn’t know anything, either, so our combined lack of knowledge cost me dollars and sleep.

#### 8. I likely hurt other full-time staff members.

All of us assumed that I as the senior pastor would earn more than others; thus, everyone’s salary was based off mine. My willing sacrifice became a forced sacrifice for others.

I’m not arguing that every pastor should seek a raise today. Every leader must make a personal decision, and all must work within the context in which they serve. I do know, though, that I would be more open with the church today if I had financial needs.

__[Image](https://www.christianmoneysolutions.com/post/8-reasons-i-should-have-been-more-honest-about-my-income-needs-as-a-pastor)__ used with permission

You were meant for more. Your money was meant for more. You and your money are meant for an exciting, adventurous, and satisfying purpose. You were designed to live and give generously. And deep inside you know this and want this.

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Church

I look back now and wish I had been more honest with them about my salary needs. Here's why.

8 Reasons I Should Have Been More Honest About My Income Needs as a Pastor

__When I was a kid I wanted to be a professional baseball player and be rich. I think most of us desire to be rich. Just today my Lyft driver told me how he wanted to be the first millionaire in his family.__

But what does God say about this?

__The Driving Force__

The Bible mentions plenty of wealthy people, some who followed God and others who didn’t. But only one of them was called to sell everything he had and give it to the poor.

Deep down, many of us wonder if God loves the poor more than the rich. We wonder if somehow it’s more spiritual to be poor. Others of us see financial prosperity as a sign of God’s blessing. We assume it’s more spiritual to be rich.

What Jesus clearly said was, “No servant can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.” Luke 16:13

I have often read this verse as “You *should not* serve God and money.” In other words, it’s bad. But now I see it as: “You cannot serve God and money because it’s impossible.”

It’s possible to be religious and put money first in your life. But Jesus says it is not possible to be a lover of God and a lover of money. These two things war against each other and each of us must decide between them.

We must choose who or what will be the the Lord of our lives. Who or what will be the driving force: God or money?

__The Dangerous Byproduct__

The current of our world pulls us in the direction of the love of money but it’s Scripture that paints a picture of where that river ends.

“Those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.” 1 Timothy 6:9-10

Am I arguing that money is bad and all Christians should be poor? No. It’s not bad to be rich, but being rich is a bad goal.

> "It’s not bad to be rich, but being rich is a bad goal."

__A Higher Goal__

Instead of desiring to be rich, we should set our course toward a higher goal, toward better riches. God’s word actually invites us, “to be rich in good works, to be generous and ready to share…” 1 Timothy 6:18

Whether you ever have great wealth or not, you have the opportunity to be rich in good works. Your life could abound with the kind of fruitfulness that’s described as thirty, sixty, and a hundredfold. When we make serving God and others our greatest goal, we will become rich with true riches, the kind that really matter in the end, and we discover the life that is truly life. 1 Timothy 6:19

Today you could align with God’s word and decide that your greatest ambition is to be rich in good works. You could make it your holy passion to excel at advancing God’s kingdom.

What would it look like for you to repent of your desire to be rich? To turn from the goal of storing up treasure for yourself or securing yourself? Today, you could lay it down again by praying something like this:

“Dear God, I surrender my life, my influence, and my wealth to you. Use me to introduce people to Jesus and bring your kingdom on earth as it is in heaven. Guard me from the love of money and the love of this world so that my life will be aimed at eternity. In Jesus’ name. Amen.”

__[Image](https://www.gospelpatrons.org/articles/can-you-be-rich-%2526-a-christian)__ used with permission.

Behind every great movement of God are generous leaders who partner with those who proclaim the gospel. We call them Gospel Patrons.

Gospel Patrons

Articles

Today my Lyft driver told me how he wanted to be the first millionaire in his family. But what does God say about this?

Can You Be Rich & A Christian?

### Getting a college degree can increase your lifetime earnings substantially, but it would be even better if someone else pays for it.

That means scholarships, of course. Every year, public and private institutions dole out about $8 billion in scholarships. If you’re not getting any of it, this article will show you ways that you can.

College is expensive. The College Board [reports](https://research.collegeboard.org/trends/college-pricing/highlights#:~:text=In%202022%2D23%2C%20the%20average,%25%20before%20adjusting%20for%20inflation).) that in 2023, in-state students at a public four-year school will spend close to $11,000 on tuition and fees. That’s for just one year, and doesn’t include room and board. Students at a private, four-year college will spend almost $40,000 on tuition and fees alone.

### With those expenses, it’s not surprising that the average student owes close to [$30,000](https://www.forbes.com/advisor/student-loans/average-student-loan-statistics/) when leaving school, but you don’t have to be the average student.

Many organizations are willing to help you pay for college through scholarships, *if* you meet their qualifications. Of course, it takes a lot of work, but look at it this way, you can either put in the time and effort *now* applying for scholarships, or you can borrow and work very hard *later* to pay back the money.

__If you would rather do the hard work now, here are several onlline sources for scholarship money.__

[Fastweb](http://www.fastweb.com/) hosts more than 1.5 million scholarships totaling nearly $3.5 billion. To get started, you’ll create a profile. A search feature helps match you to scholarships that meet your individual needs. It also keeps track of where you’ve applied— a handy feature.

[The College Board](https://bigfuture.collegeboard.org/scholarship-search) is best known for testing materials, such as theSATs and other exams, but they also want to help you *pay* for college once you get there. On their site you can apply for scholarships and internships*.* They have leads to about 2,200 programs offering nearly $6 billion in college aid every year.

[Niche](https://colleges.niche.com/) is another great site for scholarships. Like the name implies, they help you find not only money, but also colleges that cater to your specific major and interests.

[Scholarships.com](https://www.scholarships.com/) has a huge database with more than 3.5 million scholarship and grant opportunities totaling almost $20 billion. You can browse by category or set up a profile to help you find scholarships specific to your interests.

[Cappex](https://www.cappex.com/) is another great source. They have leads on $11 billion in scholarship opportunities. Their site also has a tool to help you calculate the odds of getting into a school of your choice before you even apply. 

[Chegg](https://www.chegg.com/scholarships) is best known as an online textbook store, but they can also point you to about 25,000 different scholarships. And they have a “top picks of the week” feature to help improve your odds of landing one.

Many of these scholarship opportunities are merit-based, meaning the higher your grades, the better your chances of landing that kind of scholarship.

[Unigo](https://www.unigo.com/), on the other hand, is gear toward students who are more athletically inclined, It lets you search for athletic scholarships as well as a wide variety of funding opportunities offered by specific schools and companies.

[Peterson’s](https://www.petersons.com/scholarship-search.aspx) is best known as a clearinghouse for information about colleges and universities, but they also host about $10 billion in scholarship opportunities.

[CareerOneStop](https://www.careeronestop.org/toolkit/training/find-scholarships.aspx) is sponsored by the U.S. Labor Department and allows you to search more than 8,000 scholarships, fellowships, and grants.

One final idea, check with the financial aid office at schools where you apply. Sometimes they have scholarship money available, too.

### You probably won’t use all of these sources, but you should definitely try a few that you find the easiest to navigate, or that best match your needs. If you get discouraged at any point, just remember Proverbs 22: *“The rich rules over the poor, and the borrower is the slave of the lender.”*

That’s a great incentive to find those scholarships and borrow as little as possible!

You can also __[listen](https://www.faithfi.com/search?q=Finding%20Your%20Scholarships&videos=true&articles=true&podcasts=true&posts=true&groups=true&events=true&support=true)__ to the related podcast on this topic.

FaithFi

Getting a college degree can increase your lifetime earnings, but it would be even better if someone else pays for it.

Finding Your Scholarships

### Encouraging older people to wait as long as possible before claiming Social Security benefits is common advice. After all, the longer you wait (age 70 is when the maximum level of benefits becomes available), the higher your monthly benefits check. Plus, in a married couple household, if the man was the higher earner, when he passes away, his wife would be able to switch to his higher benefit amount.

A new study further emphasizes the benefits of waiting. As reported in the *[Wall Street Journal](https://www.wsj.com/articles/high-price-retirees-pay-collecting-social-security-early-6f26291f?st=crk2dzskxwadq7a&reflink=desktopwebshare_permalink)*, a Federal Reserve Bank of Atlanta study found that instead of claiming benefits at age 62, almost 90% of people who are currently 45 to 62 years old would be better off waiting until age 70. Doing so could boost the typical worker’s lifetime discretionary spending by over $180,000. When segmented by wealth, the lowest 20% group of 45-to-62-year-olds could see an increase of $110,000, whereas the highest 20% could see an increase of $290,000.

However, the study’s authors say less than 10% of retirees are likely to wait until age 70 to begin collecting benefits. Why is that? One reason is the complexity of sorting through the many different claiming strategies. Another is that, for about half of households, holding off on Social Security would require reduced spending as they wait.

__A common misunderstanding__

A third factor is confusion over the difference between “life expectancy” and “longevity.” Life expectancy refers to the average number of years people *typically* live from a particular age. Longevity refers to how long people *might* live if everything goes well. When running numbers with a retirement calculator, people usually use life expectancy as a guide. Even the Social Security Administration’s website uses that approach. According to another *[Wall Street Journal article](https://www.wsj.com/articles/death-finances-and-how-many-of-us-get-our-money-needs-wrong-51a660a2?st=uh8z3ao9dvn8h4n&reflink=desktopwebshare_permalink)*, that has left many people “ignorant of their so-called longevity risk — the probability of living a very long time — and the complications that presents.”

To factor longevity into your planning, the American Academy of Actuaries and Society of Actuaries offers an online [Longevity Illustrator](https://www.longevityillustrator.org/). James Poterba, an MIT economics professor who studies retirement savings, provides an example: “If Joe and Jane are 65, have just retired, don’t smoke, and are both in excellent health, there is a 46% chance that at least one of them will still be alive in 30 years.” That means one of them has a decent chance of living to age 95, which stands in sharp contrast to commonly reported life expectancy numbers. Currently, life expectancy for a male infant is just 73 years; life expectancy for a female infant is 79 years.

It also differs from people’s own intuitive sense of how long they might live, perhaps conditioned by widely reported life expectancy numbers. According to a Michigan State University study, people systematically underestimate their chances of living to age 75 by 10% or more. “For example,” the *Journal* reported, “one year the 65-year-olds gave themselves a 67% chance of living 10 more years, but 78% were still around to take the survey 10 years later." It’s a phenomenon one research calls “survival pessimism.”

Perhaps if people better understood their chances of living a long life, more would wait longer before claiming Social Security benefits.

If you are now taking Social Security benefits, at what age did you begin and are you happy with your decision? If you have not yet claimed benefits, when do you plan to begin and why?

*[Image](https://soundmindinvesting.com/img/asset/Y2xvdWQvaXN0b2NrLTEyNzgzOTg0MTIuanBn?fit=crop&w=1660&h=896&s=7ad80ecf64e3f4ae9912e913546a579d) used with permission.*

Since 1990, do-it-yourself Christian investors have relied on SMI for proven strategies and trustworthy guidance.

Sound Mind Investing

Retirement

Encouraging older people to wait as long as possible before claiming Social Security benefits is common advice.

Underestimating Longevity Can Be Costly

Congress recently made changes to retirement plans that will affect your IRA or 401k. Rob West shares what you need to know about your Roth IRA or 401(k).

The Faith & Finance Minute is a great way to be reminded of God's financial principles with actionable items you can easily apply to your daily life.

Faith & Finance Minute

Congress recently made changes to retirement plans that will affect your IRA or 401k. Rob West shares what you need to know about your Roth IRA or 401(k).

Did You Hear About the Changes in Retirement-Plan Laws?

We’re called to be good stewards of God’s resources, but being financially faithful amid the business of modern life isn’t easy. Today we’ll tell you how to remain faithful in managing your money.
<ul><li>It’s easy to feel overwhelmed these days and be tempted to take the path of least resistance with money. Maybe it’s easier to grab a cup of coffee on the way to work than to make it yourself. Or to hit a fast food drive-thru rather than making dinner for the family.</li><li>But those expenses add up quickly, and before you know it, there isn’t quite enough money left over at the end of the month to meet your obligations and you’re charged a late fee. It doesn’t have to be that way. With preparation, you can avoid it.</li><li>TIPS TO REMAIN FAITHFUL WITH MONEY</li><li>First, carve out some time each week for prayer. Ask God for wisdom in managing your money. James 1:5 tells us, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.”</li><li>Next, you need a spending plan. It’s essential for managing your money faithfully. If you’re not living on a budget, download the free FaithFi app at your app store. It has three different ways to set up a budget with step-by-step instructions. The FaithFi app will also track your expenses so you stay on budget.</li><li>Developing your budget will show clearly whether you have enough income to meet your expenses. If you don’t, there are really only two options. You can either cut your expenses or look for ways to increase your income.</li><li>Trimming the budget may be easier so look at the categories where you spend a lot of money first. You may not be able to do much right away with your rent or mortgage … but what about food?</li><li>Groceries and eating out can gobble up a big chunk of your budget. But planning can save you a lot of money. Limit getting carryout to 1 or 2 times a month. Instead, draw a menu plan for the week. Make a list of the items you’ll need to prepare those meals before you go to the store.</li><li>Actually, shopping online for groceries can save you money because you’re not tempted by impulse buying and you see the running tab of the items you choose. That will help you stay on budget by not overspending in your food category. Most of the bigger chains offer online shopping now, often at no charge.</li><li>Then, look for other ways to trim your spending. Are you still subscribing to streaming services you’re not using? Can you form a babysitting pool with other parents? Or maybe look for free activities in your community? Every little bit helps.</li><li>Once your budget is balanced, ideally you have something left over. This is also essential. Unless you can learn to live below your means, you’ll be running up debt every month. More on that in a bit.</li><li>Now, the next step in staying financially faithful is to take that leftover money, even if it’s only a little, and begin saving up your emergency fund. You absolutely must have a reserve of cash to meet unexpected expenses … things outside your budget such as a furnace needing repair or a medical bill.</li><li>Start with a goal of $1.500. Then keep going, adding bit by bit. You want to eventually save 3 to 6 month’s living expenses in your emergency fund. It may take a long time and you’ll have setbacks along the way, but the peace of mind you’ll get once you have your emergency fund in place will be worth the effort.</li><li>Okay, I mentioned debt earlier. If you have it, you know first hand that Proverbs 22:7 is true, “...the borrower is slave to the lender.” Make a plan to get out of debt. You can split your leftover money, applying some to saving up your emergency fund and the rest to paying down consumer debt.</li><li>Use the snowball method to speed this up. Pay all of your minimum payments, but more on the account with the smallest balance. When that’s paid off, put your extra money on the next smallest balance. Rinse and repeat until the debt is gone.</li><li>If you’re having trouble meeting those minimum monthly payments, contact our friends at Consumer Credit Counselors to get on a debt management plan. They can get your interest rates reduced so that you pay off your debt 80% faster.</li><li>Once your consumer debt is paid off, you can turn to retirement savings. Strive to save 10-15% of your income in a tax-advantaged plan like an IRA or 401k. If your employer offers matching contributions to a 401k, you want to do this as quickly as possibly to take full advantage of that benefit. It’s free money.</li><li>All of these things are important, but perhaps the best way to be financially faithful is to remain generous. Strive to be a percentage giver to your local church, no matter what’s going on in your life. And trust that God will provide. Jesus says in Matthew 6:33, “Seek first the kingdom of God … and all these things will be added to you.”</li><li>Those are the ways you can remain financially faithful in the busiest of times.</li></ul>On this program, Rob also answers listener questions: 
<ul><li>When taking money out of a TSP, is it taxed as income? </li><li>How do you determine if now is a good time for you to buy a home? </li><li>How can you help preserve wealth for an elderly parent? </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community, and even download the free FaithFi app.

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

“If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?” Luke 16:11 ﻿We’re called to be good stewards of God’s resources but being financially faithful amid the busyness of modern life isn’t easy.

Financially Faithful in the Busyness of Life

What does the Bible say about earning? Rob West shares some examples and makes the point that earning isn’t just about money, it’s about honoring God in all you do.

What does the Bible say about earning? Rob West shares some examples and makes the point that earning isn’t just about money, it’s about honoring God in all you do.

The Bible On Earning

Everyone to whom much was given, of him much will be required, and …to whom they entrusted much, they will demand the more.” Luke 12:48 is a powerful verse about stewardship. We should set goals for using the resources God gives us. Today, we’ll talk with Ron Blue about how those goals may change later in life
Ron Blue is the founding director of Kingdom Advisors and the author of many books on biblical finance.
<ul><li>Blue tells us that setting goals for your finances and how you use money is extremely important.</li><li>THINGS TO REMEMBER</li><li>A few things to remember about goals: Goals give you direction. Set goals but write them on the sand. When the waves come and wash them away, you reset them. It’s not something that’s once-and-for-all. Your goals will change throughout the seasons of life. And as you set goals, you develop convictions about what you feel God wants you to do. It’s a process, not an event. </li><li>As you age, you can set distribution goals and ask the Lord if you have enough. And how much is enough? Setting and achieving financial goals throughout your life helps you get to a point in life where you can focus more fully on the joy of giving. </li><li>Blue also tackles the difficult question: How do you know how much money/assets to leave to each of your children? </li><li>He says, “pray a lot!” And then ask yourself the following questions: </li><li>- What’s the worst thing that could happen if I give X amount to X child? </li><li>- What is the likelihood of that and what is the consequence of that? </li><li>And as you think and talk that through, you begin to think about how you’re going to handle each child. </li><li>If you love your children equally, you treat them uniquely. That’s just the way God treats us, uniquely. </li></ul>On this program, Rob also answers listener questions: 
<ul><li>How can you ensure that you have the right amount deducted from each paycheck for federal taxes? </li><li>When should you put your assets in a trust? </li><li>Do online banks offer better savings and CD interest rates? </li></ul>RESOURCES MENTIONED: 
<ul><li><a href="https://www.irs.gov/">IRS.gov</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at <a href="https://www.faithfi.com/">FaithFi.com </a>where you can join the FaithFi Community, and even download the free FaithFi app.

“Everyone to whom much was given, much will be required, and to whom they entrusted much, they will demand the more.” A powerful verse about stewardship. We should set goals for using God's money and how those goals may change later in life.

Stewardship Goals Later In Life With Ron Blue

In 2020, Randy Alcorn gave a message at the annual Kingdom Advisor's Conference.
In this clip, he talks about what it means to be fearless and not worry about money, but trust that God will provide.

Eternal Perspective Ministries, founded and directed by author Randy Alcorn, is focused on investing in what lasts for eternity, and helping others to do the same.

Eternal Perspective Ministries

Videos

What does it mean to be fearless and not worry about money, but trust that God will provide?

If We Are Fearing God, We Have Nothing to Fear

Watch Alan Barnhart's inspirational testimony on giving his business over to God's ownership. Click the Generous Giving link below to learn more about this organization’s vision and purpose.

We exist to spread the message of biblical generosity in order to grow generous givers especially among those entrusted with much.

Generous Giving

Business & Career

Watch Alan's testimony about giving his business completely over to God's ownership.

Alan Barnhart - “God Owns Our Business”

Ron Blue shares his thoughts and advice on how to save for the future when a career has a limited income threshold.

The Ron Blue Institute seeks to be a thought leader with great influence committed to changing the way Christians think, act, and communicate about financial stewardship, empowering the church, and changing the world.

Ron Blue Institute

Ron Blue addresses this question when it's a challenge to save for the future on a limited income.

When Your Career Path Will Never Be Enough for Retirement

God gives everyone dreams, and the McEntires had two dreams: Jack wanted to see his script for Run the Race on the big screen and Charity wanted to be a stay-at-home Mom. Watch how God provided for both of them.

Christian Healthcare Ministries (CHM) is a budget-friendly, biblical, and compassionate healthcare cost solution for Christians in all 50 states and around the world.

Christian Healthcare Ministries

God gives everyone dreams, and the McEntires had two dreams. See how God provided financially for both of them.