Here at the Pastor’s Wallet, we’ve discussed ways of earning extra money before. However, those were more like side gigs or one-off opportunities. For a pastor who wants something more substantial and longer-term, the answer is to build a side business. View post

Pastors often need additional sources of income besides just their church. Running a side business is a great option, but you have to be careful. You shouldn't try to monetize your ministry. Your ministry can feed off of your business, but your business should never feed off of your ministry. View post

Researchers have found that certain characteristics are common to those who are able to successfully build wealth over time. Let's take a look at them and what they could mean for your personal finances. View post

The most commonly asked question regarding the new tax reform bill that went into effect at the beginning of the year is, “How will it affect me?” Since everyone’s situation is different, no amount of searching on Google is going to give you the right answer.   The most accurate answer you can find will come from doing calculations based on your 2017 tax return. If you anticipate being in the same, or a similar, financial situation for 2018 as you were for 2017, then you can get a pretty good estimate of this coming year’s tax bill by looking at last years’ numbers. Here is how to do it: View post

I’ve been getting a number of questions regarding the tax reform bill that went into effect on January 1, 2018. Here they are with some answers: View post

A lot of pastors think when they retire, or even if they retire, is their decision. But is that really the case? And if not, what should you do? View post

A federal judge has ruled that the cash housing allowance for clergy is unconstitutional. What happens next and what does this mean for you? View post

Today is the beginning of a brand new year, a fresh start. For many people, now is the time to leave the regrets of 2017 behind and do better in the year to come. Millions of people all over America are making New Year's resolutions to do better financially.   How about you? Would you like to improve your finances in 2018? I’ll help you. Your current finances are the result of decisions, both large and small, that you have been making your entire adult life. If you want to make a change in your financial life, you’ll need to change the way you make decisions.   Today, I’m going to show you how to make better financial decisions. View post

Merry Christmas! For the last post of the year, I thought I'd do a recap of the 10 most popular posts of 2017, in case you missed one of them. Here they are, in order of popularity: View post

Now that the GOP tax reform bill is finalized, how does it affect pastors? Let’s take a look at the changes being enacted into law and how they might affect you. View post