At any given moment, there are people in a church congregation who are in the grip of a financial crisis. One of those people could be the pastor.
In a 2015 study by the National Association of Evangelicals (NAE), more than four thousand pastors were surveyed about their financial health. This study reveals the depth of a situation that reaches across boundaries of theology, governance, and polity. Among the findings:
- 30 percent of pastors have student loan debt averaging $36,000;
- 3 out of 4 carry some type of nonmortgage debt (student, medical, or other debt) averaging $31,593;
- 33 percent have less than $10,000 in retirement funds, and 29 percent have no retirement savings;
- 84 percent do not have funds to cover emergencies and major purchases; and
- 31 percent work second jobs.
The NAE survey was made possible through a nationwide, multiyear initiative by the Lilly Endowment to strengthen the finances ...