This year’s Black Friday isn’t just about grabbing deals—it’s also payday for millions of Americans receiving Supplemental Security Income (SSI). On November 29, 2024, approximately 7.5 million eligible recipients will receive their monthly federal payment, providing much-needed financial support during this shopping season.
But why is this payment scheduled for Black Friday, and what should beneficiaries expect? Let’s cut into the details.
Who Qualifies
The SSI program is designed to assist individuals with limited income and resources. To qualify, you must meet these requirements:
- Financial Need: Low income and few resources are the primary criteria.
- Special Conditions: You must be aged 65 or older, blind, or have a qualifying disability.
If you’ve never applied or been approved for SSI benefits, you won’t receive this payment.
Black Friday
Typically, SSI payments are issued on the first day of each month. However, the November payment was sent out on November 1, 2024, covering that month’s obligation.
December 1 falls on a Sunday this year, and since federal payments are not processed on weekends or holidays, the next payment will be issued on the preceding business day—November 29. While the date coincides with Black Friday, the scheduling is purely practical and unrelated to the shopping holiday.
Two Payments
Although the Black Friday payment is technically for December, SSI beneficiaries will also receive another payment on December 31, 2024. This second check accounts for January 2025, as January 1 is a federal holiday.
| Payment Date | Covers Month |
|---|---|
| November 29, 2024 | December 2024 |
| December 31, 2024 | January 2025 |
The December 31 payment will include the 2025 cost-of-living adjustment (COLA) increase of 2.5%. This means beneficiaries can expect slightly higher payments moving into the new year.
Amounts
The Black Friday payment will reflect the current 2024 benefit amounts. In contrast, the December 31 check will include the COLA boost, increasing the maximum SSI amount to $967 for individuals, with an average payment of around $697.
Budgeting Tips
With two payments in December, careful budgeting is essential to manage expenses through January. Here are some tips:
- Prioritize Needs: Cover essential expenses like housing, utilities, and groceries first.
- Avoid Overspending: The Black Friday payment may tempt some to overspend on deals. Stick to your budget.
- Plan for 2025: Use the COLA increase to cushion expenses in the new year.
While it’s exciting to receive two payments in quick succession, it’s important to remember that these checks are meant to sustain you through different months.
The upcoming Black Friday SSI payment highlights the Social Security Administration’s effort to keep financial assistance on track, even during busy periods. Take the opportunity to use these funds wisely as you prepare for the year ahead.
FAQs
Who qualifies for the Black Friday payment?
SSI recipients with low income and resources qualify.
Why is the payment on Black Friday?
December 1 is a Sunday, so payment is issued earlier.
Will the Black Friday payment include COLA?
No, the COLA increase applies to the December 31 payment.
How much will SSI increase in 2025?
SSI benefits will rise by 2.5% with a maximum of $967.
Is the Black Friday payment for December?
Yes, it covers December 2024.
