Financial Tips for Interns and Missionaries

Financial Tips for Interns and Missionaries

Banks: You will need to check out which bank you want to use prior to arriving on the field. ATM fees, extra charges and lower exchange rate are things that will dip into your monthly support. ALL banks charge something. Several claim they don’t, but they do. Some are better at hiding it than others. Some shave points off the exchange rate (without mentioning it), some charge 1% others charge 3% or higher. Some have extra ATM fees, while others reimburse ATM fees. I recently had to change banks from our small town bank because they could no longer afford what they had initially promised. I mention that because, if banks promise something that seems to good to be true, expect it to change. Enjoy it while you can, but policies change and they are in the business to make money.

Personally, I believe it’s best to find a bank that is set up to service missionaries and their needs from the get go. Find one that has been in the business for years. Expect to pay something.

My personal recommendation (at this moment) is ECCU (Evangelical Christian Credit Union).

Exchange rates: If you’ve spent anytime overseas you know the exchange rate on your money fluctuates. For smaller things this is not normally an issue, but if you are making larger purchases it can really make a difference. I have found that it is normally better to exchange/ withdraw money on Tuesday-Thursday, or, at least that has been the norm in Peru and now South Africa. The exchange rate seems to go down over the weekend and then pick back up in the middle of the week.

In some countries (Peru for example) you would receive a better exchange rate on the street than in a Bank. In other countries you wont have an option. The only currency you’ll have the option of pulling out of the ATM is their currency. When that’s the case you will learn by looking at your statements which bank gives the best exchange rate to withdraw money. If possible never exchange money at the airport.

Credit Cards: I do not promote debt! Dave Ramsey would have a conniption, and normally I would agree with him. Though, I have found that the right credit cards give you the best exchange rate. Also, they allow you to make payments to them electronically which allows you to not have to withdraw money or do any transaction on the field (besides the purchase) which allows for others to get a cut.

If you chose this option, you must find a truly international card. Unlike the banks, there are several of these out there. One that is international, that I used for years, and would not recommend is AMEX. The reason I would not recommend them is that there are several countries that do not accept this card. Stick to a Visa or Mastercard, Visa having the priority over those two.

Personal recommendation (at this moment) is Capital One Venture Visa.

Cash: Many of your purchases will have to be made with cash. There are a couple of risks associated with cash: One, though not very common, is counterfeit notes. Foreigners make a good target to unload bad bills. The other problem with cash is the risk that comes with carrying it. It’s not advisable to have large sums of cash. In some cases there is no option. In those instances, if possible, take a friend along with you for withdraws and payments.

Coffey Family December Prayer Letter

Our family hopes everyone had a terrific Christmas and want to wish everyone a happy new year.  We are thankful for your involvement that allows us to do the work of the ministry.  It’s hard to believe 2014 is coming to an end, but we are excited about what is before us.  As we look back, there are things we could have done better, but are thankful for opportunities to make changes and improvements in every area of ministry.

As we look ahead to 2015, we pray the Lord allows us to participate in many church planting endeavors that we were hoping for in 2014.  There are a couple of young preachers that are close to stepping out.  I know God can use them in a great way to see His kingdom advance.   

We have now been in South Africa about a year and a half.  The time has passed quickly and it’s a reminder that there is a lot to do and little time to do it in.  The labor that has gone on in Madiba Bay Baptist Church, Wells Estates Baptist Church, and Servants of Christ Baptist Church is just the beginning.  So much more has to be done to reach the million and more people here in Port Elizabeth, and the countless others in Southern Africa.

Pray for open doors and boldness as we seek to please Him in advancing the Gospel.

Pastors Dec 2014

Prayer Request

  • Amy and I as we continue learning the Xhosa language. 
  • For the two singles pastors to find good wives and for the three married pastors to have strong marriages that will impact future generations. 
  • Stephen Underwood and Jason King families that are on deputation for South Africa. 

More Highlights

  • A builder is giving us an estimate on laying the foundation for New Life Baptist Church this week.  The waiting to start building seems to be coming to an end.
  • Amy and kids are doing great. 
  • Plans have been made for our first pastors fellowships, teen camps, couples retreats, and pastors school this coming year.  Please keep these events in your prayers as we hope to see maturity and involvement increase.   

Needs 

  • $600 for the water and sewer hook-ups for New Life Baptist.
  • Approx. $6500 needed to build the first building phase for New Life Baptist Church.  $3800 has come in so far.

Coffey Family November Prayer Letter

Our family moved over to Wells Estates Baptist Church about three weeks ago.  Since we have been in South Africa, we have been based at Madiba Bay Baptist Church.  We made the move to Wells because it’s about a 10 minute drive from where we hope to start the new church. This will enable us to work with Pastor Thami as we are also starting the church.   

Our original plan when coming to South Africa involved spending the first two years learning the language with plans to start a church toward the end of those two years.  Being a little eager, we hoped to start a church a little after our first year here.  Well, we’re still hoping.

Although we don’t have a building yet, we had a promising lead this past week.  Starting this week, we plan to go door to door in the new area to share the Gospel and collect as many contacts as we can for when we do start the church. 

Pastor Sipho is still waiting to start construction for New Life Baptist Church.  We are still waiting for the building plans to be approved.  This process has taken a bit longer than we have hoped and planned, but we believe it won’t be much longer.  We did get the go ahead to have the water and sewer hook-ups installed. 

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Prayer Request

  • Our first church plant.  We are still in need of a building. 
  • Our language learning.  This is of course is a repeated prayer request because it’s the #1 priority in our ministry at the moment.
  • More young men to step up.

More Highlights

  • 8 Professions of faith at our last men’s meeting.
  • Our first college intern, Bethany Staley, is in her last month of  her 6 month trip here in South Africa.
  • We able to build an addition onto Well Estates to expand the children’s ministry.  They still have class outside, but now they don’t have to worry about the sun or rain.
  • Missionary Keith Shumaker from Burkina Faso  visited.  He was a great help to the missionaries and to the pastors. 

Needs 

  • $600 for the water and sewer hook-ups for New Life Baptist.
  • Approx. $7000 needed to build the first building for New Life Baptist Church. 

Please Pray for the Underwood Family

We received news from our team member, Stephen Underwood, that his father unexpectedly passed away in his sleep this past Saturday morning.  Please be praying for Stephen and his family.  His dad was only 55 years old and this was very unexpected.  I believe the funeral will be Tuesday morning at McFarland Hills Baptist Church in Dalton, GA.  As we get more information it will be passed along.

Stephen and Ashley are currently on deputation and are doing well raising support to get to South Africa.  They had to cut a missions conference short they were a part of in Knoxville.

WorldEvangelism.net

I was privileged to write a highlight on missions in South Africa for the new blog WorldEvangelism.net. Take a look if you have a few minutes. It’s a little longer than I usually write, but there are some pictures:) Maybe they will let me write again if I can get you guys to read and comment.

Mission Field Highlight:  South Africa

In March of 2011, I traveled to Port Elizabeth, South Africa to lead mission teams to work with my cousins, missionaries Kevin and Corli Hall. God used that trip to bring my family to where we are now, full time missionaries to South Africa serving along side Kevin and Corli and my cousins Jeremy and Bekah Hall.

Traveling to South Africa helped me realize the spiritual biblical dearth of a very religious place. If you come to South Africa today you will see a country that has a lot of places that are called churches. Around town where most of the white population live you will see….  click here to read more at WorldEvangelism.net

Surprise!

Yesterday, my wife surprised her sister, and pretty much everyone else from our family and home church by flying in to see our newly born niece, Selah.  Thanks to a faithful supporter, my wife was able to be with her sister, Stephanie Cornwell, right after the birth of her new baby girl.  We were hoping to get her there before the birth when the tickets were purchased 2 months ago, but she missed it by 15 hours.

She will be in the States for two weeks to spend time with her sister and family.  Please pray for her while she travels.  More importantly though, please pray for me while I’m attempting to take care of the five kiddos back here at home, while studying the language and looking for a church building 🙂

 

Update on Baby Grace Bassham

Many prayers were answered this past week when little Grace Bassham checked out of NICU and the hospital in Bangkok, Thailand on Monday morning.  The Bassham family are grateful for all that sent financial support, but they are even more grateful for the many prayers that were prayed for the new little baby.

The infection didn’t get to the blood stream, and the seemingly bad situation has passed.

Below is the latest update from the Bassham’s:

“I want to say a huge thank you to everyone for your prayers and support this past week with the complications of the birth of Grace and her time in the NICU.

Today, after 7 days in the NICU, she was finally released, and we were able to bring her home!

This past week, we were able to see the Lord answer prayers from all of the world for little Grace. There was a whirlwind of change that happened over here in the 24 hours following the update out asking for prayer for her.”

Click here for full article

 

 

Pray and Give for Baby Grace in Thailand

Yesterday, I wrote about our good missionary friend’s Philip and Lori Bassham new little baby Grace.  She was born on Monday and everything looked good for a little while until she started having problems breathing.  The Doctors feared she may have the Step B Infection.  They moved her to NICU and put in an incubator and told Philip and Lori she would be there from 3 to 7 days.

 

I found out a few minutes ago that the doctors have confirmed she does have the Step B Infection and will now be in the NICU at least 10-14 days.

With Philip and Lori being really close friends of our, it’s tough being so far away during a time like this.  I know it has to be even more tough for their families.

Since we can’t be there with them, we would like to help raise the $7500 in Medical expenses they are facing right now.  Amy and I have already given and are willing to give more if the needs aren’t raised.

Would you consider giving a small gift to help with these medical expenses?  You can send your gift to: Vision Baptist Missions P.O. Box 442 Alpharetta, GA  30009 or give online at visionbaptistmissions.com.  

I would also asking you to please be praying.  There are some pretty scary scenarios for babies that get it early on like little Grace.  Prayer is needed.  Please pray.  

Coffey Family September 2014 Prayer Letter

Delay…. Probably.  Please continue to pray.  The location we planned to use for the new church plant fell through this past week.  One of the owners was worried the community would be upset with a church being started in the neighborhood, and wouldn’t give us the go ahead.  We’re not sure if this is a closed door, but we are praying the Lord would change hearts if that’s the place for us.   We are continuing to look for a new location and hope to do outreach soon with an address in mind.  We were planning to start today on September 14th, but that’s wasn’t possible.  I’m hoping we can start sometime in September, but it’s dependent on a building. 

We’re not discouraged.  We know the Lord is in control and we’ll just see what happens.  Our main priority is still improving on our language abiblity so there is plenty to do.  We are continue to do minsitry in the other churches until others doors open up.  We thoroughly enjoy helping the other pastors and their churches, especially with the young people who have a heart for ministry. 

Prayer Request

  • Our first church plant.  We are still hoping to start in September.
  • The place for the new church plant fell through.  Pray we can find a different location soon.
  • Souls saved & faithful men
  • Our language learning.  This is of course is a repeated prayer request because it’s still a big priority.

More Highlights

  • Madiba Bay Baptist just celebrated their 7 year anniversary.  This is the main church we have been attending while in language school. Pictured to the right is Pastor Lubabalo during the anniversary service. He’s been a great help to us in learning the language. 
  • 4 Baptised after the anniversary service.
  • Needs met for Wells Estates Baptist Property and the Gospel Tracts 

Needs 

  • Pulpit, Sign, Overhead Projector (Old-School Projector), song books, and a small trailer for the new church plant.
  • Approx. $7000 needed to build the first building for New Life Baptist Church.  $3300 has come in so far.

The Lord has blessed this past month by meeting two of the needs we have been mentioning.  Wells Estates Baptist has a piece of property they should be able to move to in December.  The money that has already been raised for this church is plenty for the property and a decent building unless things change.

Three churches gave toward the tracts and invitations needed.  This should be enough to last us for a few months, and for new tracts to be printed for the new church plant.   We are always grateful and humbled by the giving of goods people.  Thank you for loving missions and thank you for caring for souls around the world. 

Coffey Family August 2014 Prayer Letter

Prayer Request

  • Our first church plant the 1st of Sept.
  • Right location for the new church
  • Souls saved & faithful men
  • Our language learning.  We still have a long way to go.  Starting the new church will definitely push us more in the right direction.

More Highlights

  • Amy and I sang our first Xhosa special together.  It’s actually the first of any song we have every sang as a duo together:)  To see the video you can go to Facebook.
  • Intern Bethany Staley, has decided to stay for six months instead of just two.
  • My son Chase preached his 1st message

Needs  

  • $600 for Gospel Tracts and Invitation cards
  • Pulpit, Sign, Overhead Projector, and a small trailer for the new church plant.
  • Approx. $7000 needed to build the first building for New Life Baptist Church.  $3300 has come in so far.
  • Still looking for land for Wells Estates Baptist.  We have $5500 for this need but will probably need $6000 more.

The time has come for Amy and I to step out and start our own church.  Over the past year, we have been privileged to assist in the three churches that Missionary Kevin Hall and his team have started, while attending language school.  We will definitely continue to have a part in these churches as well, but in September, Amy and I are diving in to start our own church.  Although we have a long way to go in the language, we believe this new church plant will help up grow by leaps and bounds.  

This past week, we made the first purchase for the church.  We were able to get 40 black chairs for under $5 a piece.  I would like to purchase more of these chairs if anyone is interested in helping.  This is the best price we’ve ever seen on chairs and the sale ends Sept. 30th.  

There are three areas we are praying about starting the church in right now: Walmer, Greenbushes, and Seaview.  Seaview is a smaller area and would probably be ideal to start a Bible study or 2nd church plant at the same time we are working in one of the other areas.  

Please be in prayer.  We only have a few weeks to nail down the area and find a place to start holding church services if we want to start in September.  We are hoping to find a small store front or school to rent.  The areas we are considering are on the opposite side of the city from where the other churches are located, and have had very little outreach from a Bible preaching ministry.