The efficient, effective and ethical management of money in a manner that helps accomplish the objectives of the team or organization.


Financial Management requires getting things done on time with the least resources you can. This includes realistic planning and estimating, goal setting and planning, the efficient use of ready resources, and the effective management of time.

Honor the Lord with your wealth then your barns will be filled with plenty, and your vats will be bursting with wine.Proverbs 3:9-10

Skilled Characteristics

  • Uses Less

    Uses fewer financial resources in terms of time, material, money and people than most others

  • Max Value

    Gets more things done with less

  • Resourceful

    A model of resourcefulness in how to use money wisely

  • Under Budget

    Almost always comes in significantly under budget in all areas

  • Budgets

    Has a clear and thoroughly documented financial budget

  • Reports

    Tracks and reports finances on a regular basis

  • Process

    Follows a clear decision making process for unplanned purchases or expenses

  • Transparent

    Is transparent and accountable to others with finances

“Unless you control your money, making more won’t help.”

– Dave Ramsey

Unskilled Characteristics

  • Lacks Budget

    Has no documented financial budget

  • Missing Info

    Has an incomplete financial budget, missing many cost items

  • Inefficient

    Uses money unwisely or inefficiently

  • Over-Budget

    Usually over budget on projects, events or responsibilities

  • Wastes

    Wastes time, money, material and people’s productivity

  • Stingy

    Refuses to spend ministry money – conserves money too much

  • No Process

    Lacks a decision making process on how or when to spend money

  • Spontaneous

    Makes financial decisions in the moment without much thought or input from others

“If you buy things you do not need, soon you will need to sell things you need.”

– Warren Buffet

Causes of Weakness

  • Can't Say 'No'

    Difficulty saying ‘no’ to possible or proposed expenditures

  • Disorganized

    Has difficultly keeping track of things

  • Inexperienced

    Inexperienced with tracking and managing finances

  • Self

    Doesn’t involve others in financial planning or financial decision making

  • Fear

    Fear of others wanting to control finances or of having different opinions on how to use money

“Do not save what is left after spending, but spend what is left after saving.”

– Warren Buffet


Review the simple application steps below and choose 1 or 2 things you can do to spur yourself on to further growth.

  • Set Goals

    SET GOALS: You must start by identifying the goals and timelines of your project or team. Once you do so, you can then begin to estimate the corresponding costs associated with achieving each goal within it’s time constraints.

  • Lay Out the Work

    LAY OUT THE WORK: Document all the work you plan for your team to do for the year ahead. What do I need to accomplish? What is the estimated timeline? What resources will I need? What (and how many) staff will I need? What are my cost estimates for each resource, project, event, and staff member?

  • Get Creative

    GET CREATIVE: Ask yourself, ‘What can I trade with others in return for something I need? What can I buy? What can I borrow? What do I need that I can’t pay or trade for?’

  • Delegate

    DELEGATE: Idenfity staff to be responsible for different elements of your team’s work, including tracking finances. Consider allowing your staff to develop an estimate for the costs of the program or work they are responsible for. You can then go over their estimated budget with them and refine it.

  • Set a Process

    SET A PROCESS: Define a process for dealing with unexpected expenditures? What is the maximum amount that can be spent on things that were not specifically budgeted for without needing to go through this decision making process? Who should be involved with making important financial decisions? What factors need to be considered when making financial decisions?

  • Manage the Budget

    MANAGE THE BUDGET: Track the budget over time (weekly or monthly). Plan spending carefully – especially unexpected costs. Set aside reserve funds in case the unanticipated comes up. Set up a funding timeline so you can track ongoing expenditures to see if you are staying on track with your budget.

  • Report

    REPORT: Report your budget to a leadership team or accountability person/group on a periodic basis, such as quarterly. What were the budget categories and amounts for the quarter versus what were the actual expenditures? What are the implications? Why was there a difference? What can you learn from this? How do you need to adjust your future budget? How might you need to adjust your fund-raising plan or strategy?