Money for Missionaries: Why focus on Personal Finance for Missionaries?

The tagline of BFFM reads:

Raising Missions Support for Long Term Financial Peace.

But doesn’t the Lord himself provide financial peace?

Yes, God does.  At the same time, God uses means to provide for his people and his work.

We at BFFM are now happy to announce an upcoming series on personal finance for missionaries.

Lastly, sign up for the BFFM Newsletter to get special tips and updates.  We often give special offers that are not publicized on the blog to those on the email list!

Once the Missions Support is Raised – What then??

Much of BFFM is devoted to raising missionary support.  However, once a missionary has the support raised, what should they do as a steward of God’s resources?

There are already lots of great resources on personal finance.  (I’ll share more about those later.)

However, there are unique characteristics of personal finance for missionaries that deserve special attention.  To be a good steward of God’s money as a missionary requires some specialization that the average person does not have to worry about.

(Note: Many of the examples are for citizens of the USA.)

For example:

Retirement and Investing.

Many (perhaps most) missions agencies do not require their missionaries to raise adequate funds for retirement.  What they do require – how should the missionary invest it?  If the missionary wants to save extra for retirement, they often don’t have all the options that full time US residents do.

Insurance.

What types of insurance do you need as a missionary?  Then, who would sell you a policy if you plan on residing in a country most people have never heard of?

And if you’ve lived overseas, you know that there are even more personal finance questions that missionaries must face.

Where to start.

Before you focus on what is unique in the personal finance world to missionaries, you need a basic understanding of personal finance.

The best all around book on personal finance is Personal Finance for Dummies by Eric Tyson. <NOT an affiliate link.>

This book is updated regularly, and if you follow it, you will be a better steward than 95% of the people out there.

As mentioned above, the missionary finds themself in a unique situation regarding personal finance.  If the above points got your interest, stay tuned for upcoming articles on personal finance for missionaries.

Lastly, sign up for the BFFM Newsletter to get special tips and updates.  We often give special offers that are not publicized on the blog to those on the email list!

Disclaimer: This site provides information only for entertainment and informational purposes.  We do the best we can to be accurate, but we are not professionals.  We are not tax, legal, or financial advisors, and we can not be held responsibility for any loss or harm you incur from reading this site.  Reading this site or signing up to receive emails does not form an advisor-client relationship.

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