With the spread of Coronavirus continuing across the globe, Americans have officially been placed on notice to prepare for a pandemic. We want you to know that your health and safety is our first priority. Like many others, we’re taking guidance from the CDC, which recommends regular cleaning as one of the most important preventive measures we can take.

So what does this mean in terms of finances? Don’t panic — prepare. Sometimes just the act of making a plan helps to ease the stress of facing the unknown. Take a proactive approach with these strategies for financial readiness:
 
Make the most of digital banking services.
This step is one of the most important, and easiest, to accomplish when it comes to financial preparedness during a pandemic. We offer a full suite of online and mobile services that are user-friendly and easy to access. Customers with online and mobile accounts are able to complete a wide variety of transactions from the convenience of their homes, including:
 
·         view account balances
·         view recent transaction history
·         make transfers within their account
·         make loan payments
·         use Bill Pay Plus to send funds to other financial institutions, companies or people
·         deposit checks via Mobile Deposit
·         view locations
·         contact us via phone, email or secured message
·         visit our website
·         apply for a loan
·         view eStatements 
·         enroll in eStatements


These are just a few ways that mobile banking makes it easy to maintain finances without leaving home — a great service to use for those who aren’t well enough to go out or those who may be contagious with an illness.
 
 
Enroll in direct deposit.
Those who receive paper checks from their employers should consider requesting direct deposit. Those who receive paper checks for Federal benefits may enroll in automatic deposits via GoDirect.
 
Build an emergency fund.
An emergency fund will help to cover unexpected medical costs that could arise from being ill (visits to the doctor, medical tests, medications, loss of income from taking time off work, etc.) For those who already have an emergency fund, now is a good time to contribute a bit extra to that account if possible. For those who haven’t created an emergency fund, start one now. Even reserving small amounts can make a big difference, and it’s never too late to get started. Click here for tips on short-term and long-term savings, and don’t hesitate to ask Multipli for help.
 
Gather important documents.
The U.S. Department of Homeland Security recommends gathering important personal financial, insurance, medical, and other records in case of a disaster or emergency. Print copies and store them in a safe, secure location (ideally a fire-proof and flood-proof safe) and be sure to backup electronic files in a password-protected environment.
 
Make a list of important financial contacts.
It’s important to be able to access financial accounts and institutions, especially during a difficult situation. To avoid the stress of searching for this information, make a list of important account numbers and financial institutions now. This list may include toll-free telephone numbers for banks and lending institutions for credit cards, mortgages and car loans.
 
Review health insurance coverage.
This is an ideal time to review health insurance coverage. Knowing what is, and isn’t, covered is important in planning for unexpected medical expenses. When it comes to paying for medication, be sure to research prescription discount cards. There are many options available, and these cards can help everyone (insured and uninsured) to save substantially on medications.
 
Review company policy regarding sick leave.
Employees should do a quick status check on how many paid sick days their company provides, and how many they have used this year. Some companies are modifying their policies in light of the recent warning from the CDC for Americans to prepare for a Coronavirus outbreak. Some may also want to inquire about their company’s remote work policy in case they are homebound for an extended period of time.
 
At Multipli we are all about people helping people, and it’s something we take to heart in good times and bad. If you have any questions or need further assistance, please contact us at 417.865.3912.