Finance is an important area to consider when starting a new ministry. It is actually rather common to see people starting ministries, but quickly calling it quits after they realize that they did not properly calculate or take into account the financial commitment their ministries require.
Indeed, faith is an important element of ministry. However, God has also given us the wisdom to plan for these things. So, we should not take God’s provision for granted and must always do our due diligence.
In the parable of ‘The Wise and Foolish Builders’ (Matthew 7:24-27), Jesus told His listeners that taking heed of God’s Word is like building a house on a rock. The strong foundation will enable to house to not shake or easily fall regardless of how strong the winds and rains were.
If we do not build our ministry on a sound financial plan, it will not be able to withstand challenges and grow from strength to strength.
In this same vein, if we do not build our ministry on a sound financial plan, it will not be able to withstand challenges and grow from strength to strength. The lack of financial planning will surely end in disaster.
In my years of ministry, these are some of the principles that I have found to be useful when embarking on a new area of ministry.
1. Start small
Unless the Lord specifically told you to rent a big hall that will cost at least $5,000 per month, always start with a conservative approach.
For example, I started out my ministry in a small condominium function room at about $2 per session with five people. I didn’t draw a salary then, so monthly expenses were less than $50. We survived.
After a few months. We were recommended to an office space, which had been used as a small place of worship for many years. It had cost about $800 for 4 Sundays (3-7pm). The group grew to about 15 people with a few working adults. There was still no salary paid then. The total monthly cost was about $1,200. This included the love offerings given to the speakers. It was manageable as far as finances were concerned.
God was faithful in His provision.
In two years, we were recommended a chapel at Cru Centre. It was a nice and affordable place. We grabbed it at $1,000 per month. We could use it on Sundays (2-7pm) and Friday nights for prayer meeting. God was faithful in His provision. By this time, we could afford to give a small salary to the pastor. The cost per month was now about $3,000. This included the pastor’s salary and the speakers’ love offerings.
Don’t run ahead of God! Obey His Word, do your due diligence and be a good steward, He will surely bless your every good work.
This is an example of how when you start small, and don’t over commit financially to a big meeting venue and other expenses, you would be able to have the financial buffer to weather the storms and trust as God leads the growth of your ministry. Don’t run ahead of God! Obey His Word, do your due diligence and be a good steward, He will surely bless your every good work.
2. Bless others
Personally, I have learned that no matter how small your ministry is, have a big heart. Financially, when you take care of God’s people, He will bless in return.
When the pandemic had hit, we had moved the ministry online. After the pandemic, we continued to hold church from a home through Zoom. This enabled us to save lots of money on rental. Thank God for His provision, financially we are still doing all right.
Though financially we are not a rich church, we always make it a point to bless others.
At Cru Center, Little India, we conducted a food distribution for three years. Each of these three years, at Christmas, our church members will generously donate and pack about 500 goody bags. We would then sing carols near the roadside and distribute the goody bags. Seeing the smiles of those who received the goody bags made our efforts worthwhile. We are privileged to be able to demonstrate God’s love to those around us.
All in all, I believe that managing finances for God’s work is a learning journey. As you begin to do your part to ensure that you are being a good steward of God’s resources, you will pick up things along the way that will make you sharper in your financial planning and ministry.
Always be sure to seek God’s wisdom and trust Him to lead you in every financial decision.
For me, I learned that sometimes, the money you save on the pastor’s salary or rental can go a long way in helping you keep the ministry going and even at times be channeled to other people or things that need it more. Always be sure to seek God’s wisdom and trust Him to lead you in every financial decision.
When we manage our finances wisely, God will surely provide all that we need and more.
Things done in God’s way shall not lack His resources!
*Rev Dr Ps Patrick Lau went home to be with the Lord in April 2024. This was the last article he had written for the AG Times. We are honored to publish this and hope it inspires you as much as it has inspired us.
