Thriving clergy display well-being spiritually, emotionally, relationally, physically, intellectually, and financially. But do you know the most common financial challenges facing clergy? Neither did we until we surveyed our pastors.
Our survey discovered that the typical Wesleyan pastor…
- Has moderate financial stress
- Has no supplemental savings for retirement
- Has not been able to take vacation or retreat due to time or money
- Has no emergency savings
- Has medical expense concerns
- Believes there is limited ability for future income increase
- Struggles with education expense (their own school debt and their children’s college costs)
- Reports diminished ministry capacity because of economic challenges
Although many families face similar concerns, the current and future earning potential of pastors frequently means that it is especially difficult for clergy to meet unexpected expenses, build savings, or pay off debt. Clergy economic challenges also diminish the quality of ministry by both the pastor and the local church. By reducing the negative effects of pastors’ economic challenges, the TFI helps make it possible for clergy to develop enhanced holistic health that increases energy, optimism, and effectiveness in ministry. The Thrive Financial Initiative, which is part of a larger effort in Education and Clergy Development, helps foster thriving clergy and thriving congregations who build thriving communities.