Jeremiah 17:7-8 "Blessed is the man who trusts in the LORD, whose confidence is in him. He will be like a tree planted by the water that sends out its roots by the stream. It does not fear when heat comes; its leaves are always green. It has no worries in a year of drought and never fails to bear fruit."
The Nichols Family-Morelia, Michoacán, Mexico
Financial Update: Furlough Summary, Needs for 2024
Reggie and Karlee Nichols: October 2, 2023
Something to celebrate! We have four major financial praises we want to share and give you freedom to happy dance with us!
- As a result of the generosity of our monthly and one-time donors, we were able to make our proposed 2023 desired budget! In fact, we were able to receive our anticipated 2023 one-time donations by the end of June, just before leaving for furlough.
- While traveling this summer, we were able to receive enough funding to cover ALL of our furlough expenses!
- We gained FOUR new monthly donors for a total of $350 per month.
- We received enough one-time donations to cover ALL of Harmony’s unexpected medical expenses for her hospital stay (that ended up NOT being reimbursed by our Stateside insurance) along with her upfront medical needs.
Thank you SO much for journeying with us to make all of this possible!
Something to consider: We have six anticipated factors that have greatly impacted our family and ministry budgets.
1. As a result of Harmony’s diagnosis with Type 1 Diabetes, we will have an increase in our budget for medications, medical supplies, and food needs.
2. Due to our insurance benefits in Iowa, in order to establish and maintain primary care in the state of Iowa, we anticipate an
additional 1-2 trips to Iowa annually to meet the insurance requirements and have her specialty care covered.
3. We are looking into purchasing private health insurance in Mexico, which was not previously necessary, as healthcare in Mexico is comparatively much more affordable, but Harmony’s condition will play a big factor for local needs that will not be covered by our Stateside insurance.
4. We have experienced about a 5% general inflation in Mexico (compared to about 8% in the U.S.).
5. In 2023, the exchange rate of the dollar to Mexican peso has fluctuated, causing a 13% decrease in value, meaning our donations
that we receive from the States has taken a huge hit.