How to End the Year Financially Strong
Your Christmas services are complete, and all the Holiday parties have concluded. Even so, there is still work to do to close out the year strong for your church’s finances. This season can often be one of the busiest times of year for church finances, but it does not have to be the most stressful.
Here are 4 Year-End Financial Tips for Churches
Prepare for Last-Minute Givers
If you do not have one yet, you need a plan for last-minute givers. Why? Well, 31% of giving happens in December, and 12% occurs in the last three days. Here are two ways you can make sure to engage last-minute givers with the mission of your ministry
High-capacity givers want to give to a specific need that allows them to see the difference their gift makes. Giving to your general fund does not help paint the picture for them in this way. Therefore, it is critical to connect their desire to give to those in need by providing them the opportunity to give to a specific cause and not just to your general fund.
The second step you can take to engage last-minute givers is to communicate the cut-off date for giving to be counted in the current calendar year through a simple email message or announcement on the last Sunday of the year.
Examine Your Financial Systems
As the world moves towards digital, your ministry needs to be prepared to do the same. Is your giving platform customized for your church? Deka helps you empower downers, make giving easy, and make a difference through Deka.Gives .
Another way Deka can improve your financial systems is through the powerful dashboards you will have at your fingertips to manage your giving data through Deka.Gives.
How are the systems you use to distribute, fund, and manage team spending? Deka.Wallet allows you to access this budget information on all of your devices easily. If your team uses cards to spend and make purchases, you will want to check out Deka.Wallet. Click here to find out more.
Set Financial Goals for the Next Year
Pray about what you would like to see your church accomplish in the following year. Is there something new that will need to be budgeted to meet that need? If so, does this mean another area will need to see the budget reduced?
What areas can you be more financially efficient in to be more productive as a ministry? Check the budgets you set at the beginning of last year and see what actual spending looked like. Examine with your team to see how better decisions can be made in the coming year.
Would you like some help going over these areas for your unique situation? Click here to schedule a free coaching call with one of our team members today.