Wartburg Theological Seminary forms valued leaders for God’s mission through a worship-centered community of critical theological reflection, where learning leads to mission and mission informs learning.
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Formation happens in many dimensions of life and faith, including how we understand and steward our financial resources. Wartburg supports the personal financial wellness and stewardship formation of all students.
We are committed to increasing awareness, skills, and confidence in financial decision-making. Students, spouses/partners, and families are encouraged to make use of resources provided throughout the seminary journey and after graduation.
Financial wellness involves understanding your financial situation, practicing healthy stewardship, and preparing for financial changes in ways that reduce stress and support long-term sustainability.
These resources are offered to help students build faithful, informed, and confident financial habits. Below you will find links, tools, and resources for your exploration.
Managing finances well is an important part of stewardship and personal wellness. The following practices can help you strengthen your financial health and build habits to last into ministry and beyond.
Borrow only what you need, - Limiting debt and paying attention to terms can save significant money over time.
Know your Debt
Keep track of who you owe, how much, and when payments are due.
Check Your Federal Loans
View loan amounts, lenders, servicers, and contact information at Studentaid.gov. Note that private student loans will not appear here.
Explore Repayment Options
You can apply for federal repayment plans through your loan servicer.
Create and Stick to a Budget
Develop a budget that allows you to live within your means and understand where money is spent each month. Review your progress regularly and adjust categories as needed, increasing savings and reducing expenses where possible.
Even small amounts each week can help cover unexpected expenses. Clearly define what type of expense your savings/emergency fund is for, and replenish after any use.
Pay Off High-Interest Debt First
Focus on paying off the most expensive debts first, generally credit cards. Once one debt is cleared, apply the same payments to the next highest-interest debt.
Protect Your Assets
Review and maintain insurance coverage: life, health, auto, home/renters, and disability (if not provided by an employer).
Know Your Credit Score
Establishing and maintaining a healthy credit score can help you qualify for lower interest rates on loans.
Seek Expert Advice
Speak with a financial professional when setting goals, creating a budget, or considering new debt. Expert guidance can provide an unbiased perspective and help you make informed decisions.
Managing money in seminary can feel overwhelming, but the right tools make it easier to stay on top of expenses, track debt, and plan for the future. Below are a few resources designed to support financial wellness and help make informed choices about spending, saving, and borrowing
The CFPB offers a range of practical financial tools, including a financial well-being questionnaire, a bill calendar, spending tracker, and debt log. Students can explore guidance on paying off student loans and connect with non-profit credit and financial counselors, as well as other helpful consumer education resources.
View Website ›Consumer.gov provides straightforward financial education, including a downloadable budget worksheet, tips for improving credit, explanations for resolving debt, and advice for paying back student loans. It’s a helpful place for anyone learning to manage personal finances.
View Website ›The WTS Financial Aid Office has created a downloadable budgeting spreadsheet to help students track monthly income, expenses, and savings by semester. It includes built-in formulas that automatically calculate totals and balances, making it easy to see where money is going.
Download Now ›The external resources linked below provide guidance on a variety of financial topics including student loans, budgeting, credit, and long-term financial wellbeing.
The Institute of Student Loan Advisors (TISLA)
Advice on student loan repayment, forgiveness, servicer issues, and more.
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Federal Student Aid – Loan Consolidation
Guidance on whether consolidation makes sense and how to apply through the U.S. Department of Education.
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Federal Reserve Bank of Dallas – Credit Card Repayment Calculator
Estimate payoff timelines and total interest for credit card debt.
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U.S. News & World Report – Student Loan & Credit Information
Educational articles and comparisons on loans, refinancing, rates, and credit cards.
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Lutheran Social Services – Financial Counseling
Free, confidential financial counseling for individuals facing debt or credit challenges.
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Portico Benefit Services
Information on benefits offered by faith-based employers, including health coverage, retirement, and financial wellbeing tools.
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Thrivent Financial
Educational resources on budgeting, saving, investing, and debt management.
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External resources offering education and guidance for developing healthy, faithful stewardship practices in ministry settings, including fundraising, resource management, and congregational leadership.
Stewardship of Life Institute (SOLI)SOLI is dedicated to teaching and equipping leaders for holistic, faithful stewardship that goes beyond fundraising. Topics include discipleship, generosity, and resource care within congregational life. The Institute provides articles, tools, and curriculum for pastors, seminarians, and church leaders.
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“How Much is Enough?” (E-Book)
SOLI is dedicated to teaching and equipping leaders for holistic, faithful stewardship that goes beyond fundraising. Topics include discipleship, generosity, and resource care within congregational life. The Institute provides articles, tools, and curriculum for pastors, seminarians, and church leaders.
View E-Book
ELCA Stewardship
The ELCA’s stewardship page offers guidance, downloadable tools, and educational materials for congregational leaders, including resources on stewardship planning, giving, and leadership development.
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