At our organization (Team Expansion), we follow the USA’s Social Security Administration’s Cost of Living Adjustment (“COLA”) each year as a benchmark. We recognize that various countries have various rates of inflation though. In the USA, the SSA has specified a cost of living adjustment of 3.2%. (https://www.ssa.gov/cola/) So if your church or org were to give a 3.2% raise, the US Government thinks your spending power should roughly be on par. But what do you do for every other country on earth? Complicated, right? Please click comment and let us know. Thanks!
7) Mitigating for Inflation: What Does Your Church or Org Do?
Very helpful
Unfortunately in our case things like car needs and dental costs aren’t covered
Having said that for other living costs our missionary service group does its best
Praying for your dental costs and car needs right now, Andrew… but glad they have inflation in mind for you!