(Following are ideas for personal finances as related to being in TUD… These are IDEAS dad wrote in 1980)
* Car – (driving to a congregation) $.58 per mile, which covers gas/oil/upkeep over time. When your car is broke, fix it. Lay aside $.25 per mile out of this to replace the care in a few years.
- Contribution = plus $100.00 to sponsoring local congregation from fund.
- (Need to begin with) 6 months full salary IN THE BANK- to be reduced as you gain support.
- Borrow – IOU’s – Redeem at later time PLUS 6- 8%
- Wife work – Temporarily (?) – Consider an IOU to her.
- All travel expenses must be collected. (Salary + Travel Exp.= Total check)
(Good used low mileage car = $5-7,000.00 – plan for it.) - Escrow account – Hospitalization/ IRA/ SS etc…
- Have your own Secretary/Treasurer – Pay them for services.
- Borrow $5,000.00 to get started (back in 1980). Ref. to #3.
- Attitude priority: HUMILITY not humiliation (when seeking support).
- Must be ‘hungry’ to do this. Note: Dad Believed in sacrifice, but not sacrificing his family. You need money to live on. No shame in that. He was never ashamed to let brethren know he needs support. Figure out what is needed. Your financial safety net, your support, all finances… present your case. God will work in and through brethren.
