New year! New you!  What are your ministry financial resolutions?

Everyone does it.  We set New Year goals to lose weight, exercise, read books, etc.  After a few weeks of suffering we quit and go back to our old comfortable ways.   Change really doesn’t happen.

The New Year is a great time for church leaders to refocus the financial goals of ministry.  Good stewards have a good plan that they stick to. Just like you won’t get healthy if you stop going to the gym, church finances can’t be fully utilized if you are not intentional about reaching the goals you have set. Set financial goals and don’t quit.

For churches setting financial goals, it's important to focus on sustainability, growth, and community impact. Here are some key areas to consider when establishing healthy ministry financial goals:

1. Budget Planning and Sustainability

Create a Balanced Budget: Establish a comprehensive, realistic budget that supports ministry programs, operational costs, and facility maintenance while avoiding debt accumulation.  Budget controls spending.  No budget, no control.

Maintain Financial Health: Ensure there are savings for emergencies, building upkeep, and future ministry projects. Setting a goal to build or grow an emergency fund can provide security in difficult times.  Trust me, there will be an emergency!  Ever have a furnace go out? Pipes freeze?

2. Tithing and Giving

Increase Congregational Giving: Develop strategies to encourage regular giving, such as through digital giving platforms, stewardship campaigns, or teaching about the biblical principles of generosity.  Find ways to inspire giving.

Set Targets for Tithing and Offerings: Set realistic growth goals for tithes and offerings by tracking past trends and developing campaigns or outreach to increase participation.  There are some great software options to help out.

3. Debt Reduction (if applicable)

Reduce or Eliminate Debt: If the church has any existing debt, set specific targets to reduce or eliminate it. This could involve creating a debt repayment plan or negotiating lower interest rates. 

Plan for Long-Term Financial Freedom: Imagine the freedom of no mortgage!  Create a strategy for the church to become debt-free and invest future resources into ministry and community outreach instead of interest payments.

4. Capital Campaigns and Building Fund Goals

Fund Building or Renovation Projects: If there are plans for property expansion, renovation, or new facilities, churches can set specific fundraising goals to ensure these projects can be completed without incurring excessive debt.  People get excited about supporting growth.  

Establish a Capital Reserve Fund: Set a goal for establishing or growing a fund dedicated to future property needs, including maintenance, upgrades, and major repairs.  Think about the cost of resurfacing your parking lot.  Start saving for it now

5. Ministry and Outreach Funding

Support for Missions and Local Outreach: Create a dedicated portion of the budget for mission trips, community service programs, or local outreach initiatives. Set specific financial goals for supporting both international missions and local community needs.  

Develop Ministry-Specific Funds: Churches may want to create designated funds for specific ministries, such as youth, women’s groups, elderly care, or children’s ministries, to ensure these areas are adequately funded.

6. Financial Literacy and Education

Offer Financial Stewardship Classes: Provide education to the congregation on budgeting, debt management, saving, and biblical financial principles. Setting a goal to increase participation in these programs can improve the overall financial health of members and increase giving.  Financial Peace University is a great option.

7. Technology and Infrastructure Investment

Invest in Digital Giving Solutions: If not already in place, set a goal to adopt or improve digital giving platforms, making it easier for the congregation to give online, via apps, or through recurring donation options.  Keep giving as easy as possible.

Upgrade Church Technology: Set aside a budget for enhancing audio-visual equipment, live-streaming services, or updating church management software to improve communication, worship experiences, and engagement.

8. Staff and Volunteer Support

Ensure Competitive Compensation for Staff: Staff is your most asset. Plan to invest in them. Review salaries and benefits to ensure staff members are adequately compensated for their work, which helps in retaining key personnel.

Invest in Volunteer Programs: Set goals for supporting and training volunteers, whether through financial incentives, training resources, or recognition programs, to maintain strong involvement

Consider the values and long-term vision of your church,then set financial goals that support them. Just like your New Years diet plan, the only way to healthy finances is sticking to the plan.