Life with MS

Managing expenses, especially medical expenses, is daunting for many people. If you have been diagnosed with multiple sclerosis, it adds an extra layer of complexities and issues. If you're on SSI, SSDI, or other disability insurance, keeping track of the bills can be difficult. Many MS patients have loved ones or a professional resource to help with managing, but it is essential for you, the person living with MS, to be involved as well. Financial management is very personal and may often be a source of anxiety. Using technology can increase transparency, relieve anxiety, and give a sense of independence. Several common trusted apps and programs make it safe and easy to achieve this. 

Avoiding scams and paying extra fees for unecessary services is very important. It is also recommended to consult a professional money manager if possible. Money management is a broad topic, and this article is not meant to address how to manage investments. It is meant to provide options on how to pay bills to medical and other professionals. 

This article will be divided into areas. The first one is banking electronically. The second one is distributing reimbursements to professionals and your loved  ones, if needed. Check writing is becoming almost obsolete. It is not taught to many people in school. Many small businesses are no longer accepting credit cards, as the fees they pay on credit card transactions can be prohibitive. While electronic money management is common, and in many cases necessary, it is not foolproof. Security precautions are important and will be addressed. 

Electronic banking

Physically getting to a bank has its obstacles, the most common being the hours of operation. If you use a walking aid, such as a wheelchair or a scooter, it can be difficult depending on the accessiblity of the bank and its location, assuming you have transportation. Except for cash withdrawal, many banking needs can be accomplished with a mobile smartphone, such as depositing checks, transferring money between accounts, and paying bills. Almost all banks have an app for your phone.

To deposit a check, choose that option in the bank app, endorse the back of the check on the appropriate line, take a picture of the front and back, and click "Deposit." You will see a pending bank deposit immediately after, and it is usually cleared within two to three business days, depending on your bank, to transfer money within the same bank, it is very straightforward.  You can also link banks to other outside banks to transfer between banking institutions. All banks have a customer service department that can help walk you through it.  

You can also have your bill payments automatically from a bank account, debit card, such as electric, phone, and credit cards. If you are going to automatically pay a bill, you can and should have your income checks deposited automatically. Most people already have this in place through their employment. If you are on SSI disability, you can have it deposited to your account of choice. 

Many banks will only send paper statements if you ask. Keeping track of your accounts online is simple and many banks and credit cards, depending on your credit rating, let you pay larger bills over time for little or no interest. On your bank's website, you will also find other services that may be beneficial. If you feel more comfortable speaking to a live person, you can contact customer service of your desired bank, and they will share all other benefits available. 

Reimbursement distribution

Using apps to pay family, friends, or local professionals is efficient and relatively simple. A few common apps are Zelle, PayPal and Venmo. An article from PC Magazine offers a good summary of tested-safe apps and how they work at msfocus.us/MobileApps. Each app has a nice that works for most people. Zelle is great for sending money directly to the bank account of a family member, friend, or a professional who has performed services. Most apps mentioned above require that the recipient also sign up for the service. Paying for bills or services this way is becoming increasingly common, so it is likely your recipient can participate. When you do receive a paper bill from your doctor, for example, there will probably be a website listed on the bill where you can pay online.

A very important caution is do any type of money transaction on protected Wi-Fi. Public Wi-Fi is not safe to use for any personal information or banking. Many people pay for a virtual private network for this purpose. VPN is a topic for another article, but if you're interested in learning more, go to the How to Geek website at howtogeek.com/133680/htg-explain-what-is-a-vpn and learn about it and how it helps keep your information safe.