The last wave of Social Security benefits will be disbursed as the year draws to a close. The millions of Americans who depend on Social Security to pay their monthly bills may use their final 2024 payments to cover last-minute Christmas shopping or to get ready for the spike in costs that comes with the holiday season, like higher heating and food expenses for those who are hosting family.
The significance of Social Security benefits over the holidays
For millions of Americans who are elderly, disabled, or low-income, Social Security benefits are a critical source of income, making them especially significant over the holiday season. Social Security benefits are paid to over 72.5 million Americans each month.
Due to travel, gift-giving, and seasonal activities, many people experience higher spending throughout the holiday season. This increases the importance of having solid financial support.
For seniors who depend on Social Security as their main source of income, these benefits assist pay for necessities like housing, food, and medical care, allowing them to continue living comfortably even in the face of future financial strains.
Furthermore, timely Social Security benefits can provide much-needed stability and respite to people who are dealing with disabilities or other financial difficulties.
Social Security dates in December and Black Friday
Just in time for the weekend Black Friday purchases, the final November Social Security payment for beneficiaries was distributed on November 26. Beneficiaries can anticipate receiving their last 2024 installments on the dates listed below.
| Date | Payment Type |
| December 1st | Payments from Social Security and SSI to recipients who applied for benefits prior to July 1997 |
| December 3rd | Social Security and SSI benefits for recipients of both programs’ payouts |
| December 13th | For people whose birthdays fall between the first and tenth of any given month, Social Security benefits |
| December 20th | Social Security benefits for anyone born on the eleventh or twentieth of any given month |
| December 27th | For people whose birthdays fall between the 21st and the 31st of any given month, Social Security benefits |
In December, there will also be a bonus payout. Since January 1st is a holiday, January payments for Social Security and Supplementary Security Income for individuals who have been claiming since before July 1997 will be made on December 29th.
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2025 Social Security benefits will get a new COLA boost
There will be a 2.5% increase in 2025 Social Security benefits. The reason for this is the new cost-of-living adjustment index, which determines how much Social Security benefits need to increase.
Since the beginning of the COVID-19 pandemic, the current COLA is the lowest it has ever been. The declining COLA number shows that the economy is starting to recover from the pandemic and that inflation is declining.
