Does your church routinely save a portion of the income it receives from tithes and offerings? I’m not talking about monies budgeted for Missions. That’s an expense. I am talking about saving some of your precious income for future unforeseen circumstances or perhaps expanding your church facility.
It is absolutely critical in our personal lives, but also critical not only for the normal operation of business (or church) that a portion of monthly income be deposited into a savings account. It is not poor stewardship to have money sitting idle in reserve. It is poor stewardship to spend every dime one receives.
There are several reasons to save money each month. First, every church should have a reserve fund. This should be based on funding a sudden loss on income over a several month period. We recommend saving at least 3 months and preferably 6 months worth of expenses.
Secondly, should your church desire to seek debt financing for a future renovation or expansion project, it will need to prove to a lender that it already has established the habit of saving money. This is what church lenders always tell us and tell our church clients.