Those who need to make significant purchases on Black Friday would greatly benefit from the Federal payment that is due on November 29.
You must be receiving the Supplemental Security Income program benefit in order to be eligible for this monthly check or direct transfer. SSI, that is. You are therefore ineligible if you have never applied and have not been accepted.
Having little to no resources and a low income are the primary prerequisites for receiving SSI benefits. As a result, this is advantageous for helping Americans who are struggling financially with federal aid.
An additional requirement for SSI benefits
You must continue to be eligible if you receive SSI on November 29. Therefore, you have to be blind, disabled, or at least 65 years old. As a result, a much smaller portion of the population is eligible to receive benefits from the SSI program.
By now, you’re probably asking why Black Friday, rather than December 1, 2024, is when the SSI payment is due. Remember that the November deposit or cheque was sent out on November 1.
Therefore, sending two checks in the same month is not logical.
The Social Security Administration chose Black Friday as the date of this payday because Sunday, December 1st, is not a work day, not so that you can receive your money on this significant shopping day.
Read Also: How to Apply for Food Stamps and Receive Up to $1,756 in California
Will 2024 see the final SSI payout on Black Friday?
In actuality, it will be the December payment, but it won’t be the final payday scheduled for December. Since January 1st is a Federal holiday, the payment cannot be sent on New Year’s Day.
Therefore, on December 31, 2024, it will be deposited into the bank accounts of SSI recipients. Remember that the December 31 and Black Friday SSI checks are for the following month.
Planning your monthly budget and making prudent use of it will be crucial. The 2025 COLA rise will not be included in the Black Friday payout. However, the December 31st SSI check will. Recipients can anticipate a 2.5% increase. An individual may receive as much as $967, but the average will be $697.
