Social Security – Check the Payment Scheduled by the Administration for Black Friday

With Black Friday just around the corner, many people are planning their purchases, hoping to score great deals on everything from electronics to essentials. However, if you’re one of the millions of Americans who rely on Social Security benefits, timing your purchases could be even more important. The Social Security Administration has announced the upcoming payment dates for retirees, SSDI, and SSI recipients, and this could be your golden opportunity to grab what you need during the Black Friday sales.

One group of recipients, in particular, will receive their payment on Black Friday itself, November 29, 2024. If you’re part of this group, you might find that extra bit of cash quite handy for making those essential purchases at a discount.

SSI and Black Friday

For those receiving Supplemental Security Income (SSI), you’re in luck this Black Friday. The Social Security Administration has scheduled your December payment to hit your bank account on November 29, 2024. This isn’t specifically because of Black Friday, though—it’s a scheduling quirk. December 1, 2024, falls on a Sunday, so the payment is being pushed forward to the previous Friday, which happens to be Black Friday. This early deposit could be a lifesaver if you’ve been eyeing some deals but couldn’t quite afford them.

However, if you’re not on SSI, don’t fret just yet. There’s still a chance you could receive your Social Security retirement or SSDI payment a couple of days before Black Friday. Specifically, if you began collecting Social Security after April 30, 1997, and you’re not on SSI, your payment will be deposited on November 27, 2024. While not exactly on Black Friday, it’s still close enough to give you some spending power for those holiday bargains.

SSI Payment Details

So, how much can you expect to receive if you’re on SSI? The amount varies based on your circumstances. For married couples, the maximum payment is $1,415, but both partners must be eligible. If you’re single, the maximum you can receive is $943. There’s also a payment of up to $472 for what’s known as an “essential person,” someone who lives with you and provides necessary care.

But here’s where it gets a bit tricky: many SSI recipients also receive Social Security benefits. If that’s the case, your SSI payment could be reduced. For instance, if you’re 65 or older and receiving both benefits, your average payment might only be around $574. Similarly, if you’re under 18, the average payment is $815, while those aged 18 to 64 receive an average of about $743.

The good news is that if you’ve applied for SSI benefits before but didn’t qualify, you might want to try again after September 30, 2024. There will be new rules in place, potentially making it easier for you to qualify for the assistance you need.

Strategic Spending

With the knowledge of your payment date, you can better plan your Black Friday shopping. Whether it’s stocking up on essentials, grabbing gifts for the holidays, or making a purchase that’s been just out of reach, timing is everything. Keep an eye on those deals, and make sure you’re ready when the funds hit your account.

This early payment might be just the opportunity you need to stretch your dollars further during one of the biggest shopping events of the year. But remember, the best deals go quickly, so plan ahead, know your budget, and be ready to act when your payment arrives.

If you’re looking to make a major purchase, this could also be a good time to do some research. Compare prices, read reviews, and ensure that what you’re buying is worth the investment. Black Friday can be a great time to buy, but only if you’re making smart choices with your money.

Whether you’re on SSI, SSDI, or receiving Social Security retirement benefits, having a little extra cash on hand for Black Friday could make all the difference.

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