Financial Stress: The Silent Killer of Your Organization

(4-Minute Read)

The average U.S employee is stressed about their finances, with 72% reporting that they're anxious or concerned because of money worries at least sometimes during the week, according to a recent survey by BrightPlan.

Impact on Employees

*Source - BrightPlan 2022 Wellness Survey

The survey revealed that the impact of financial stress on employees isn't anything to overlook. For example, 77% reported having impacted their mental health, 52% said it had impacted their physical health, 47% reported lower engagement, and 45% revealed that it had lowered their productivity. With nearly 50% of all employees being affected by financial stress, employers can no longer ignore this growing issue. 

Impact on Employers

How has employee financial stress affected their employers? BrightPlan's survey revealed that over 11 hours of productivity were lost per employee per week. That's a quarter of the workweek lost due to employee financial stress. Employee retention has also been affected. Another study by PWC revealed that of the 29% of employees currently looking for jobs, 65% say that money is their primary reason. Also, financially stressed employees are twice as likely to look for another job, and 76% of them are attracted to other companies that care more about their financial well-being.

What Do Employees Want? 

BrightPlan goes on to reveal what employees are actually looking for from their employers. Of the top 3 benefits shared, financial wellness comes in number 1 at 54% versus the 30% of employees wanting flexible time off. Additionally, 88% of employees expect employers to support them with their financial well-being. 

Employer's Benefits?

The survey showed that if employers provided the right tools and education to their employees that 95% of them believed it would positively impact their lives. Specifically, 60% said they would work harder, 59% would feel more financially secure, 58% would be more engaged and productive, and 34% said they would be more committed and stay longer at their current employer. These results clearly show that with better financial support provided by employers, they would experience greater productivity and better employee retention. 

Solution

Along with being a retirement plan provider, Envoy Financial also provides numerous tools and resources to our plan sponsors and their participants. You can find many resources on our website to help increase your employees' financial literacy. However, what we have found to be most desirable is access to our stewardship advisors. When asked to choose between their employee and other sources of advice, over 70% of employees said they would trust financial advice from their employers over an influencer or youtube. And 70% would trust the advice from a financial advisor over a personal finance blog. 

An Envoy Stewardship Advisor is not only equipped to help with proper investment decisions, but they are also here to help craft a comprehensive financial plan for you. Unfortunately, most employees do not have the time or the capacity to do their research and then put together their retirement plan. That's why we have put together a solution for them where they will feel much more confident about their financial future and have peace of mind that a professional is looking out for them. The first step towards financial peace of mind is to have an introductory call with one of our Stewardship Advisors. This initial call is part of your plan with Envoy Financial, so make sure you make it known to your employees!

Schedule an initial call with one of our Stewardship Advisors today!   

7 Steps to Help You Get Out of Debt

Did you know that the average American owes around $58,604, and 77% of Americans carry debt of some sort? While it may seem hopeless at times, we fully believe that God gives us the wisdom and ability to become debt free, if we choose to be. Here are 7 steps to help you get out of debt and bring hope to you and your family.

Step 1 - Get Serious

The first step to getting out of debt is to actually decide you are going to get out of debt. It sounds simple enough, but it’s not that easy. What this essentially means is that you will need to decide NOT to trust in debt anymore. Are you living outside your means every month? This won’t be an easy change, especially suddenly, but the Lord has given us grace for this.

For freedom Christ set us free; stand firm therefore, and do not submit again to a yoke of slavery. ~ Galations 5:1

Step 2 - List Your Debts

Let’s start creating our plan to get out of debt by listing all your debts. Get out a sheet of paper or create a spreadsheet and start listing them. Make sure you take some time and think through all your debts. You can use a format like the one you see below.

Step 3 - Analyze Your Budget

Step 3 may take a little more time and effort. Most people, when they create a budget, are forward-thinking. They plan their budget based on what they think or want to spend. However, a better method is looking back 90 days and seeing what you actually spent. Below is a possible list of categories to help jog your memory.

• Insurance - Auto, Home, Health, Life, etc.

• Living Expenses - Food, Tithes/Offerings, Utilities, Auto/Gas, Medical, Clothing, Entertainment, Monthly Subscriptions, Childcare, Home Repair, Investments, Taxes

There are many companies that can help you keep track of your budget in real time. A few of them include, You Need A Budget (YNAB)* and Every Dollar*. Currently both companies offer free trials to their service. So feel free to give them a try and see if they would be a good fit.

Step 4 - Trim The Fat

Alright! Did you take the time to review how you actually spent your money in the past 90 days? If you did, congrats! Way to take responsibility and a huge step toward becoming debt free. You should have something that looks like the budget below.

Once you’re looking at your actual spending habits, you can take an honest assessment of your spending. Do any areas surprise you? Are there areas you can see right away you’d like to trim a little?

If you need a little help, there are many online sources and companies that will help you find the best prices on many things you probably already use.

Get Jerry* is a company that will compare over 50+ insurance rates all at once. Allowing you, the consumer, to compare and make the decision based on your needs.

Rocket Money* (formerly Truebill) is a company that helps you get control over your subscriptions, so you know exactly what you’re paying for, and they’ll even help you cancel unwanted subscriptions. They also help you negotiate better rates on your current subscriptions if they qualify.

These are just a few options to help you Trim The Fat on your monthly budget. Go and see how much money you can free up!

Step 5 - Interest Rate Is King

In Step 5, what we’re looking to do is to get as much of our debt on as low of an interest rate as possible. What we will do here is just list some possible options that are available to help with this process.

• Refinance - If your current interest rate on your mortgage is 2% higher than the current rates, it may be worth exploring refinancing. Remember, the goal is to pay off all debt ASAP, so make sure you use the “freed up” cash flow towards paying off higher interest debt.

• 2nd Mortgage / Debt Consolidation - It may be an option to explore either of these two options if you have high-interest debt (12%+)—mainly high-interest credit card debt.

• Peer-to-Peer Lending - There are many companies now that offer loans that are peer funded. These work because peers (investors) are looking for better returns on their money and are willing to offer other peers (borrowers) a loan at a lower interest rate than banks or credit card companies. One of these companies is Prosper.com.* Check them out and see if they will be a good fit for you.

• The last tip in this section is - Don’t Borrow Money From Friends or Family! If they are willing to gift you money, that’s fine. But maintaining the relationship may be difficult once someone loans you money.

Step 6 - Finding Money

This is a very fun step because it’s all about exploring different ways to find “hidden” cash we didn’t know we had. Here are a few ideas to explore for Finding Money!

• Charity Miles Write-Off - Did you know that the IRS lets you write off mileage when you do charity work? That means any time you serve at your church, you can write off the miles. Currently, it’s around 14 cents a mile. Please consult your tax expert for specific applications to your situation.

• Property Tax Overpayments - If you’ve owned your house for many years, there may be a chance that you have overpaid on your property taxes. You can check your county’s website for more information on this.

• Check for Unclaimed Money - There are websites out there that list possible money that is in your name, and you haven’t claimed it yet. One of these is MissingMoney.com.* Go check them out and see what you can find.

• Sell Something on eBay - We’ve all heard the saying, “One man’s junk is another man’s treasure.” Never underestimate what someone is willing to pay for things. Take a weekend to find and list any items you haven’t used in a while. Don’t just throw it away, do some research, and you may be surprised at the amount of money you can raise!

Step 7 - TAKE ACTION!

Once you’ve taken the time to do these steps, you’re now ready to put them together into an actionable plan. Let’s get started!

• Identify the extra cash flow you were able to free up.

• Create an emergency fund of $2000 to $3000 dollars. While most financial advisors recommend the equivalent of 6 months of expense saved, this is a good place to start. This may take you a few months.

• Next, take that additional cash flow and start attacking your debt. Best practices here would be to pay off smaller debts first, so in our example in Step 2, we would pay off the “Citi” balance of $3916 first.

  • Side note: If you chose to get a 2nd mortgage or a debt consolidation loan to consolidate your high-interest debt, start attacking the debt that has the highest interest first. Leaving your mortgage to the very end.

• Once one debt is paid off, you then take that debt’s monthly payment, combine it with your cash flow and take that whole amount and attack the next debt.

• Repeat the process over and over until you’ve completely eliminated your debt!

Bonus Step! - Superfund Your Retirement!

Congratulations! You’re now debt free! Now what? What do I do with all this extra money?

Give extravagantly and focus on funding your Future Funded Ministry Plan! (Retirement plan)

In our example above, after you’re completely debt free. You will have over $2500 a month in available cash! Ask the Lord what He will have you do with this money, and then take action. One that we highly recommend is to superfund your retirement so you will be prepared for the ministry the Lord has for you in your later years! If you have any questions about this, please schedule a meeting with one of our Stewardship Advisors.

Conclusion

You now have a plan! What we recommend is to commit it to the Lord.

Commit your work to the Lord, and your plans will be established. ~ Prov. 16:3

Getting completely debt free isn’t a small task, but it is doable. Especially with the right plan.

Here at Envoy Financial, we want you to know that we are here to support you through your financial journey. If you need any advice, please do not hesitate to reach out to us at (888) 879-1376 or click here to schedule a meeting with one of our Stewardship Advisors.

* Envoy Financial is neither affiliated with nor compensated by any companies mentioned in this article. Please do your own due diligence before using any services listed in this article.

5 Tips on How To Increase Your Plan Participation

Setting up a retirement plan for your organization was no small task. Then to see a lack of participation in your plan could be discouraging. Unfortunately just because you have provided the plan, that doesn’t mean your employees will just automatically participate in it. Here at Envoy, we want to see your plan succeed so here are 5 tips you can use to help increase your plan participation!

1. Automatic Enrollment

Choosing to automatically enroll all new employees in your retirement plan can dramatically improve your participation rates. According to the Center for Retirement Research (CRR) at Boston College, in one study of automatic enrollment, participation increased by 50 percent, with the largest gains among younger and lower-paid employees. While auto-enrolled employees are allowed to opt-out of the retirement plan, most generally stay enrolled. Another recent Vanguard survey of 8,900 small business retirement plans found a dramatic effect of automatic enrollment on employee participation rates: 83% with automatic enrollment versus 58% without. 

2. Adopt Auto-Escalation

Plans that use auto-escalation automatically increase their participants’ contribution rate every year, typically by one percent. Over time, that can significantly improve savings rates among workers. The Center of Retirement Research cites a 2013 study of Danish workers that the majority of workers who experienced automatic increases simply accepted them, and savings rates dramatically increased. Also when the assets get in the plan get bigger everyone benefits with lower costs. 

3. Provide Target-date Investment Products

Investing is complicated, and many employees don’t want to take the time to learn how to manage their portfolios. Target-date strategies automatically adjust an employee’s investment allocations over time, shifting them to a more conservative asset mix as the target date (typically retirement) approaches. Target-date funds have increased in popularity in recent years due to their ease of use. 

4. The Employer’s Match

One of the best ways to motivate participation is with “free” money. The Employer’s Contribution Match is essentially that. In fact, if your employees are not taking advantage of your contribution match they are throwing away free money. We highly recommend constantly reminding your employees of your match, especially after they become eligible. 

5. Offer Loan & Hardship Withdrawal

Allowing loans and hardship withdrawal options in your retirement plan is another way to increase participation. Many employees may choose not to participate because they think their contributions will be stuck in a retirement plan until they retire. However, by offering loans and hardship withdrawal options you give your participants more flexibility and ease of mind. If you offer loans and hardship withdrawal options remember to consistently remind your employees of this benefit. 

While there are many more tips to help increase your plan participation, these 5 are some of our best ones. However, nothing can is better than constant communication with your employees reminding them to participate in your plan and to do it as soon as possible!

Do You Need Some Help?

Envoy Financial has numerous support options. For general questions about your account, please contact our service team at (888) 879-1376. You can also access FREE education tools, resources, and more at EnvoyFinancial.com. Plus, Envoy's help center is available online at any time. If you would like to review your investments, you can schedule a meeting with a licensed advisor. 

What is CalSavers?

In 2016, the state of California passed legislation requiring private sector employers to provide a retirement savings program for their employees. CalSavers is the state-sponsored plan imposed on private sector employees who don’t have an alternative provided.

How does the CalSavers program affect my faith-driven organization?

If your organization has more than five employees and does not currently offer a retirement savings plan, you will be required to participate in CalSavers. The best alternative is a CalSaved Retirement Plan. While some religious organizations are exempt, here is the opportunity to review your retirement plan and access a faith driven, cost effective option.

CalSavers is a state-managed retirement plan, which means your church’s values are not considered when determining where retirement contributions are invested.

What does it mean to be a faith-based alternative to the CalSavers program?

As a faith-based alternative, the CalSaved retirement plan is built on biblically responsible investing. Every fund used for retirement investments of CalSaved participants is rigorously screened to ensure that your money is stewarded in a way that aligns with your values.

Are there other benefits to choosing CalSaved?

In addition to being built upon biblically responsible investing, CalSaved provides more flexible benefits to your church and employees, such as:

• 3x the maximum allowable contribution: CalSaved allows up to $19,500 in annual contributions, over three times more than the CalSavers maximum of $6,000 for participants under the age of 50.

• Tax deductible contributions: CalSaved is a 403(b)(7) or (9), which means contributions can be tax deductible. CalSavers defaults you to a Roth IRA, which means contributions are made after tax.

• High income participation: CalSavers accounts are Roth (post tax) IRAs, and those with higher incomes may not be eligible to contribute. If you earn more than the Roth IRA income limits set by the federal government, you may need to re-characterize to a Traditional IRA. CalSaved is not an IRA and is designed specifically for Churches & Faith-Based Organizations.

• Optional employer contributions: CalSaved allows employers to make contributions to employee retirement plans, which is not an option with CalSavers.

• Tailored plan design and ongoing guidance: CalSaved was created by Envoy Financial, a leading name in church retirement planning. You’ll receive guidance from people who understand the unique needs of church retirement plans, rather than the one-size-fits all state mandated CalSavers plan.

How can I learn more about CalSaved?

CalSaved is created and implemented by Envoy Financial, a leading provider of faith-based retirement plans. If you would like to learn more about CalSaved, please contact us today. Our specialists will be happy to answer any questions you may have about enrolling your organization in CalSaved.

Why CalSavers May Not Be a Good Option for Your Ministry Retirement Plan

What is CalSavers?

In 2019, CalSavers was implemented as a mandatory retirement program for all California employers. This program is required for any employer who does not offer an employer-sponsored retirement plan and has five or more employees. While some exceptions are surfacing, it is clear that a Faith-Driven plan under your control and reflecting your values is a better alternative, the best option.

So should you sign up forCalSavers or should you find another retirement plan provider?

Your Ministry Has Unique Retirement Plan Needs

As a current or prospective retirement plan sponsor, you may feel pressure to find the right retirement plan for your employees. However, most secular retirement plan vendors do not understand the unique needs and opportunities available to ministries. Additional priorities include a low-cost plan, Faith-Driven investments, reduced or minimal administrative responsibilities and great advisory support for you and your staff.

That’s where Envoy Financial can help.

For almost three decades, Envoy has solely focused on the distinct retirement needs of those in ministry. We are uniquely qualified to help establish a retirement plan that will fit your ministry’s needs.

Why is Envoy a Good Fit for Your Ministry?

• Receive personal support and advice. Envoy staff understands the unique opportunities and challenges that ministries face since we’ve been there. Most of the Envoy staff has a ministry background, having actively served in church and mission ministries.  We understand you!

• Envoy has designed a retirement plan that fits the needs of your ministry. This includes multiple investment options such as Mutual Funds, ETvFs, and Biblically Responsible Investment options (those that avoid supporting abortion, pornography, gambling, alcohol, tobacco, and war products).

• Learn about the significant benefits and advantages 403(b) plans provide for ministries.

• Talk to a licensed expert who can help you understand one of the greatest tax benefits for ministers,The Minister’s Housing Allowance. If you qualify for this allowance, we will help you take advantage of it.

To learn more about Envoy, read about our retirement plan outcomes or contact one of our service members.

Mandatory Retirement Plans for the State of California

What is CalSavers?

In 2019, CalSavers was implemented as a mandatory retirement program for all California employers. Over the next three years, this program will become required for:

• any employer who does not offer an employee sponsored retirement plan, and

• any employer who has five or more employees.

Once an employer signs up for CalSavers, their employees are automatically enrolled into a Roth IRA and make contributions from their paycheck.

Does an Organization have to use CalSavers?

No. CalSavers is one option, but you can choose whatever retirement plan provider/option you think best. If you’re a California employer who does not offer an employee sponsored retirement plan, has five or more employees, and is not exempt, you will need to find a retirement plan that suits your organization. For example, Envoy Financial specializes in retirement plans for those in ministry.

Can Employers Contribute to Calsavers?

No. Employers are not allowed to contribute.

The Employer’s Role in CalSavers

The employers must remain neutral about the plan. This means that they should not encourage or discourage employees to join the plan. They also may not provide contribution advice, answer any questions about the plan, help with investment decisions, or process distributions.

When an employer signs up for the plan, they hand over their employee’s information to CalSavers and are not available to employees for any advice or counsel. CalSavers is the only one who provides retirement planning information, and explains all options. 

With CalSaved, your Faith-Based organization has access to experts in Faith-Driven retirement planning plus advice and counsel.

The Employee’s Role in CalSavers

CalSavers is an automatic enrollment program, which means that employees must be automatically enrolled unless they choose to opt out.

The employee must choose their level of involvement in the plan.

• If they don’t decide, or don’t respond, they will be automatically enrolled in the plan within 30 days.

• They may choose to change their investment options from a secular target-dated fund to one of the 4 limited options available.    

• California law requires that CalSavers invite the employee to join the plan every two years if they opt out initially.

When an employee leaves their job, they can remain in the plan.

Retirement Plan Options for Ministry Employers in California

California Employers Are Now Required to Offer Retirement Plans

California employers are now required to offer retirement plans for their employees. This law was put in place to force everyone into a State-Run retirement plan. While some exceptions are surfacing, it is clear that a Faith-Driven plan under your control and reflecting your values is a better alternative, the best option.

This leaves California employers with two options:

1. They can sign up for CalSavers, or

2. They can sign up for a different retirement plan.

Serving the Unique Retirement Needs of Those in Ministry

Finding the right retirement plan for your ministry can be overwhelming. You want an easy to administer, low-cost plan with great performance, participation, and support. And, all this from a provider you can trust. So where do you start? How do you know which retirement plan is best for your ministry? 

1. Is matching my values with my investments important?

2. Can I improve my current plan?

3. Can I put a Faith-Driven Retirement Plan in place?

CalSavers offers a very basic plan with limited options and no Faith-Driven Investments, and does not specialize in providing retirement plans and expertise for those in ministry. That’s where Envoy Financial is different.

For almost three decades, Envoy has solely focused on the unique retirement needs of those in ministry by providing affordable retirement plans so everyone can invest well. In addition, several of Envoy’s staff have served with churches and in the mission field.

If you are a ministry employer in California, we encourage you to find a retirement plan provider that understands your unique needs and can help you create a retirement plan that you will be proud of. To learn more about Envoy Financial or to speak to a member of our team, visit our website at EnvoyFinancial.com.

Is The Minister’s Housing Allowance Taxable?

You’re a minister and you’re currently receiving the Minister’s Housing Allowance. But you’re getting ready to file taxes and need to know if this Housing Allowance is considered income.

Let’s start with the basics.

What is the Minister’s Housing Allowance?

The Minister's Housing Allowance is a great tax benefit—and a great financial benefit—for those who are licensed, ordained, or commissioned as a Minister. The amount of the housing allowance must be approved by your Church Board and must be recorded in written form.

Pastors who qualify for the Minister’s Housing Allowance should request a written statement from their church for the fair market rental value of their home (home, furniture, and utilities) or the annual housing expenses required for maintaining a home.

Is The Minister’s Housing Allowance Taxable?

When the approved amount of compensation is determined to be a Housing Allowance, that amount is not taxed by either the federal or state taxing authorities.

In other words, the Minister’s Housing Allowance can be excluded from your gross income when filing your taxes (permitted by Section 107 of the Internal Revenue Code).

This amount is not a deduction from your income—it is an amount of income not reported. A housing allowance is never deducted because it is never reported as income in the first place. However, the pastor is required to include any excess housing allowance as income on their Form 1040.

Pastors can exclude an amount from federal and state income taxes that is the lowest of the following options:

• A church-designated housing allowance

• The amount used to provide a home

• The fair rental value of the residence (home, furnishings, utilities)

The housing allowance payments must be used the same year that they are received.

Note, it does not reduce your Self-Employment Contributions Act (SECA) taxes. When a portion of compensation is received as housing allowance, federal and state taxes are directly reduced, but SECA taxes are not.

Housing Allowance During Retirement

The Housing Allowance comes into play again during retirement. The determined amount of Housing allowance, during retirement, can be used to reduce or eliminate any income tax tied to the distribution from a 403(b)(9) Church Plan. The net result is that your retirement dollars will go up to 25% further because of the Housing Allowance benefit. Please note if you roll your 403(b)(9) funds to an IRA or 401(k) you will lose this benefit.

For more on taxable housing allowance, visit the IRS website.

* Envoy Financial does not offer legal or tax advice and encourages that you consult with a lawyer and/or professional tax advisor for personalized tax advice.

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More Housing Allowance Articles

What Happens to Your Housing Allowance If You Change Employers?

Housing Allowance After Retirement

Housing Allowance for Pastors

What Are The Requirements to Receive Housing Allowance?

What Are Housing Allowance Tax Advantages?

Special Tax Considerations for Pastors

Housing Allowance FAQs

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What is a 403(b) Retirement Plan?

A 403(b) retirement plan:

• Is typically established by not-for-profit 501(c)(3) employers, hospitals, self-employed ministers, and public education organizations.

• Allows eligible employees to make salary reduction contributions into the plan on a pre-tax and/or after-tax (Roth) basis. 

If the contributions are pre-tax, earnings within a 403(b) plan accrue on a tax-deferred basis. If they are after-tax (Roth), earnings within a 403(b) plan accrue on a tax-free basis. Certain restrictions apply.

Role of the Employer

Employers offering a 403(b) plan may make employer matching or employer basic (non-elective) contributions to the plan on behalf of the eligible employees. 

As a general rule, the administration associated with a 403(b) plan is less involved than the administration of a 401(k) plan. 

While 401(k) retirement plans are generally subject to ERISA, 403(b) plans sponsored by church plans and governmental plans are exempt from ERISA. Such plans are commonly referred to as Non-ERISA plans.

Non-ERISA 403(b) plans do not involve employer contributions and involve voluntary plan participation only. If an employer chooses to make contributions to an employee 403(b) account, they are subject to ERISA guidelines.

403(b) Plans for Christian Ministries

Today 403(b) retirement plans provide significant benefits and advantages for ministries.

Since Christian ministries often have unique needs, it's important to tailor the retirement plan to those needs. It's also crucial to be aware of, and benefit from, the tax code and the Department of Labor rules.

Some Benefits of a 403(b) Retirement Plan

• Most plan sponsors are not aware of the specific 403(b)(9) church retirement plan rule that makes the minister's voluntary contributions pre-SECA tax in addition to state and federal income tax.

• The Foreign Earned Income Exclusion IRS rule allows missionaries working abroad to qualify to exclude their earned wages from U.S. federal taxes. This amount changes annually with inflation. Use the IRS’s Interactive Tax Assistant tool to see if you are eligible for this exclusion.

• A Roth 403(b) retirement plan allows missionaries abroad to contribute to a Roth 403(b) resulting in tax-free growth and distribution. A Roth 403(b) is an outstanding savings vehicle for your employees. Are you offering both a 403(b) and a Roth 403(b) plan? This is just one example.

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Learn more about Church Retirement Plans.

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Interested in learning more about 403(b) retirement plans? Contact Envoy Financial and one of our specialists would be happy to speak with you.

Your Money Needs Purpose

As a postscript to Rick Warren’s Magnus Opus, The Purpose Driven Life, he suggests that money and purpose do mix. 

Let’s take this one step further—it is difficult to fulfill a purpose without money as a component. Seldom is it an issue of too much, or too little, but it is a matter of how you use what you’ve been given.

How are your resources to be used?

Just like the other resources God provides—time, talent, energy, intelligence, wisdom—money is to be used to fulfill God’s purpose for our lives and for His honor and glory. Sounds good, but hard to do!

Definition of resources

There is a direct correlation between what we have, how we use it, and our faithfulness to God’s call on our lives.

The definition of resources is:

The availability of support materials, like money, and other assets, like intellectual property, used to function effectively and achieve a mission or goal.  

There are two keys factors here:

1. To have sufficient resources to support the cause, and

2. To use those resources wisely to achieve the purpose

Each season or stage of life must be funded.

In other words, there must be enough money to breathe, live, and manage our affairs.  As a young person, our funding source was our parents or guardians. In adulthood, it became our job or profession. During the last part of life, it is the savings we have accumulated to fund our future ministry. If we have not prepared, we are either totally dependent on the government, others, or we continue to work.

The purpose of money

The purpose of money is to support God’s plan for your life, and as a lever, to multiply that impact beyond what we can do without it. God’s call on our life is both universal and specific. Universally we are to represent Him to all we meet and specifically to fulfill our role in building His Kingdom.

Money and purpose do mix. It is always a good idea to review the purpose and to take inventory of all our resources. It is a good idea to evaluate how effective and efficient we are in managing, using, and leveraging them. 

This raises the personal question, "How are you doing?"