Welcome to Pastor’s Wallet
Hi, I’m Amy. I started Pastor’s Wallet in order to give pastors like you the tools you need to master your personal finances in a safe community. From opting out of Social Security to housing allowances and dual status taxation, there are a lot of financial issues that are unique to pastors. As a finance writer, I couldn’t find anything dedicated to pastors and their specific issues, so I decided to do it myself! If you want to learn more about me, the blog, or why I started it just follow the links.
Pastor’s Wallet has been around since 2016 and articles are published on Mondays. With so many pages of information, it can get a little overwhelming. So, I thought I’d give you a shortcut in case you’re not in the mood to scroll through several years’ worth of blog posts. Here are some of the most popular posts, organized by category. If you don’t find what you’re looking for, let me know at Amy@pastorswallet.com and I’ll do my best to help you.
Housing Allowance
The ministerial housing allowance is a great benefit, but boy is it confusing! Hopefully these articles will help you make sense of it:
How Much Housing Allowance Can A Pastor Claim?
What Expenses Qualify For The Minister’s Housing Allowance?
How Do You Report Your Clergy Housing Allowance To The IRS?
Who Is Eligible For The Clergy Housing Allowance?
How To Take A Ministerial Housing Allowance In Retirement
How To Calculate Fair Market Rental Value For Your Housing Allowance
How A Parsonage Allowance Works
You can calculate your own housing allowance with our Clergy Housing Allowance Calculator
You can also purchase my book, The Pastor’s Wallet Complete Guide to the Clergy Housing Allowance, on Amazon.
Social Security
With the ability to opt out, Social Security is a popular topic among pastors. These articles will shed some light on it and your decision regarding it:
What You Need To Know About Social Security Even If You’ve Opted Out
Opting Out Of Social Security: A Step By Step Guide
The True Cost Of Opting Out Of Social Security
Can Pastors Opt Back Into Social Security?
Can You Still Receive Social Security Benefits Even After Opting Out?
What Social Security Spousal Benefits Can A Pastor Who Has Opted Out Receive?
Taxes
Many of you probably found your way to this website through Google as you tried to make sense of your taxes. Here are some more articles that might help you: (If you have more specific needs, use the search to the right, these are only a few of our many articles.)
What Is Dual Status Taxation & Why Does It Matter For Pastors?
Why Don’t Churches Pay Payroll Taxes For Ministers?
Why Do Church Employees Pay Self Employment Taxes?
Do Pastors Pay Social Security & Medicare?
Are Pastors Eligible For The 20% Qualified Business Income Deduction?
The Best Tax Software For Clergy (& Your Other Filing Options)
Side Jobs/Income
If you’re looking to supplement (or replace) your pastoral income, then these articles might be helpful for you:
What You Need To Know About Earning Extra Income As A Pastor
Secular Jobs For Pastors: 9 In-Demand Skills You Already Have
Secular Jobs For Pastors: Writing A Relevant Resume
Business Ideas For Pastors That Want To Make Extra Money
Medical
Whether or not we like it, we all need medical care. And we all have to find a way to pay for it. These articles should help you figure that out:
Health Insurance For Pastors: What Are Your Options?
How Medicare Works For Pastors Who Have Opted Out Of Social Security
Yes, There Is A More Affordable Alternative To Health Insurance
Are You Wasting Money Without A Health Savings Account?
Other
Whether it’s retirement, kids, or student loans, we’ve got your answers!
Are Pastors Eligible For Public Service Loan Forgiveness?
How To Take A Ministerial Housing Allowance In Retirement
How Do You Save For Retirement Without A Workplace Retirement Plan?
How To Teach Your Kids About Money (No Matter Their Age)
You Just Had A Baby. Now What?
How To Get The Most Out Of College Savings
Professional Help
I like to think that this website has a lot of helpful resources, but sometimes it just isn’t enough. If you need personalized, specific information, it might be time to talk to a professional. You can learn more about the educational consultations, financial planning, and speaking engagements that I provide personally here on the Work With Us page.
We also have a list of reader-recommended tax professionals here.
How To Find A Trustworthy Financial Advisor
How Do Financial Advisors Get Paid (& Are They Worth It?)
Does It Really Matter If Your Financial Advisor Is A Christian?
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