A savings account for expected and unexpected future events is essential for individuals as well as churches. We cannot predict unexpected events in life, but we know that they are going to come. For individuals a tire is going to hit something in the road and need replacement. A filling is going to fall out, which means a trip to the dentist. For churches, a computer is going to fail or the air conditioner is going to die.
Then there are expected future events that require savings. If your tires have 80,000 miles on them, you probably are going to need to replace them. A twenty-year old water heater is well past its life expectancy. The same is true for churches. An ancient cooling system is going to die. A ten-year old computer is past its prime. A roof does not last forever. Take an inventory of all the church systems including age and repair history. This will begin to give you an idea of how much is needed for future repairs.
So how much money do we need in an emergency savings account? A good place to begin for individuals is at least $1,000. Do not let the number scare you away from beginning somewhere. You may not have that much money to set aside today, but you need to begin today. Start with a goal to have $100 on hand, and then move to $200 and beyond. Churches need more.