Social Security – Check out the payment scheduled by the Administration for Black Friday

Black Friday is an exciting day for shopping, but for those relying on Social Security payments, timing is everything. With November 29, 2024, approaching, it’s crucial to know when the Social Security Administration (SSA) has scheduled your monthly payments, especially if you’re planning to make some purchases on this big shopping day.

Payments

Interestingly, there’s a group of recipients who will receive their Social Security payments right on Black Friday, November 29, 2024. This is particularly advantageous for those who want to take advantage of Black Friday deals but are currently short on cash.

Supplemental Security Income (SSI) recipients will get their December payments early, on November 29, due to a scheduling quirk. Since December 1, 2024, falls on a Sunday, the SSA will disburse SSI payments on the preceding Friday—coincidentally, Black Friday. This could be perfect timing for those who need to make essential purchases at discounted prices.

Paid Before Black Friday

If you’re not an SSI recipient, there’s still a chance you could receive your Social Security payment just before Black Friday.

• Social Security Retirement and Social Security Disability Insurance (SSDI) recipients who began receiving benefits after April 30, 1997, will receive their payments on Wednesday, November 27, 2024. This is just two days before Black Friday, giving you the opportunity to plan your shopping accordingly.

Payment Amounts

If you’re an SSI recipient, you might be wondering how much you’ll receive on Black Friday. Here’s a quick breakdown of the maximum possible SSI payments:

• Individuals: Up to $943
• Couples (both eligible): Up to $1,415
• Essential Persons: Up to $472

It’s important to note that many SSI beneficiaries also receive Social Security benefits, which can reduce the amount they get from SSI. For example, the average SSI payment for individuals aged 65 or older is around $574, much lower than the maximum of $943.

For other groups:

• Under 18s: Average payment is about $815
• Ages 18 to 64: Average payment is around $743

These payments can make a significant difference, especially for those planning to stretch their dollars on Black Friday. However, if you feel your current benefits aren’t enough or you didn’t qualify in the past, consider reapplying after September 30, 2024, when new rules could make you eligible for a higher amount.

Planning for Black Friday

If you’re counting on your Social Security payment to make purchases on Black Friday, it’s essential to know when that money will hit your bank account. For SSI recipients, the timing is perfect with the payment scheduled for November 29, 2024. For others, payments on November 27 still give you a chance to prepare.

Whether you’re buying essential items or getting a head start on holiday shopping, knowing your payment schedule will help you make the most of Black Friday deals.

FAQs