Do You Need A Living Trust Even If You Don’t Have Any Money?

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Last summer, my husband and I finally sat down with an estate planning attorney. Prior to that, our will, advance directive, etc. were from online templates and barely personalized. We decided it was time to do things the right way, and boy was it a learning experience.

 

To prepare us for our meeting, we were mailed a long questionnaire of which about half of the questions we didn’t even understand. How important is it to us to avoid probate? Are we looking to set up a trust? What kind? It was like jumping into an Estate Planning 201 course when we had never been to Estate Planning 101.

 

We just want our family to be taken care of in the case that one or both of us die. We want things as simple and easy as possible for whoever is left over. The attorney’s answer: a living trust.

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No, Pastor, Your Finances Are Not Personal

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Being a pastor is like being a parent. Signing up for the job is akin to signing away all your privacy rights. As a parent, there are little people with big mouths following you around wherever you go. I mean, you can’t even go to the bathroom by yourself.

 

As a pastor, you have a whole church of people watching your every move and often judging it. They pay attention to the car you drive, the movies your kids are allowed to watch, and whether or not your wife has a professional manicure. I’m not saying this is right or comfortable, just that this is the way it is in most churches.

 

Honestly, it shouldn’t come as a surprise to any of us. In I Corinthians 11:1, Paul tells the church at Corinth, “follow my example, as I follow the example of Christ.” (NIV) People don’t only follow what leaders say, they follow what they do. And so they watch to see what you are doing.  

 

Effective leadership is much more showing than telling. We all know that the “do as I say, not as I do” parenting method is useless. It doesn’t work any better as a pastoring method. When people look up to you, they will watch what you do and emulate it.

 

You Set An Example With Your Finances

As such, you must lead by example in the area of personal finance as well. If you want a generous church that has a healthy relationship with money and is responsible with their finances, you have to do it first. Be generous. Work through any negative issues you may have with money. Be conscientious with your spending. Prepare for the future.

 

It is not enough to preach doctrinally sound sermons and set an example of moral integrity. (Though those are necessary!) You must be an example of wise stewardship as well.

 

You Prove Your Leadership Ability With Your Finances

In I Timothy 3:5, Paul writes, “but if a man does not know how to manage his own household, how will he take care of the church of God?” (NASB) He’s got a point, doesn’t he?

 

If you’re financing an untenable lifestyle with debt or spending your grocery money on iTunes, I don’t know that as a congregant I would feel comfortable giving my tithe to the church that you lead. If you aren’t a good steward of your own personal resources, why should anyone trust you with God’s?

 

By being responsible and conscientious with your finances, you show your congregation that you are competent to lead and trustworthy.

 

You Are Accountable First To Your Family For Your Finances

By now you’re probably thinking, “This lady is crazy, there is no way to please everyone, especially with something so personal! She must have never set foot in a church before!”

 

Don’t worry, I don’t expect you to please everyone, and I don’t think you should even try to please everyone. (Jesus sure didn’t!) While I believe it is part of your job as a pastor to set a good example with your finances, I don’t believe you are beholden to your congregation.

 

Your financial decisions should be made with your family’s best interests in mind, not your congregation’s opinions. Even though you have answered the call to shepherd God’s people, your responsibility is first and foremost to your own family.

 

Now, I’m sure there are people in your congregation who wouldn’t agree with me. I’m sure there are people who think they should have a say in how you manage your household and budget. While I’m sorry that you have to deal with people like this, you have my permission to completely ignore them. I will pray that God performs the same miracle on them that he did with the lions for Daniel- shut their mouths.

 

As a pastor, you set an example for your congregation and earn their trust with how you manage your own personal finances. For you, finances really aren’t that personal after all. But, at least the church lets you go to the bathroom alone.

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Credit Or Debit: How Should You Pay?

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Credit or debit? It’s a big debate in the world of personal finance, especially when well-known voices like Dave Ramsey have such strong opinions. Is it best to pay for everything with a credit card and earn rewards? Or pay with a debit card and avoid debt?

 

Let’s take a look at both options, the advantages and disadvantages of each (because there are both!), and discuss how to go about making the decision for yourself.

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