The Federal payment due on November 29 will be of great help for those who need to make important purchases on Black Friday. To be eligible for this monthly check or direct deposit, you must be receiving the Supplemental Security Income program benefit. That is, SSI. So, if you have never applied and you have not gotten approval, you do not qualify.
The main requirements to receive SSI payments are having a low income and having little to no resources. Therefore, this is a benefit to support Americans in a difficult financial situation with the funding of the Federal Government.
One more condition for SSI payments
If you receive SSI on November 29, you must remain eligible. Thus, you must have a disability, be blind, or be at least 65 years old. Hence, the scope of the population that can receive money from the SSI program is greatly reduced.
By now, you must be wondering why the SSI payment is due on Black Friday and not on December 1, 2024. Bear in mind that the November check or deposit was issued on November 1.
So, it does not make sense to send two checks in the same month. The reason why the Social Security Administration has scheduled this payday on Black Friday is not for you to have the money on this important day for shoppers, it is because Sunday, December 1 is not a business day.
Will the SSI payment on Black Friday be the last one in 2024?
As a matter of fact, it will be the payment for December but it will not be the last payday set in December. The January 1 payment cannot be sent on New Year because it is a Federal Holiday.
So, it will be delivered to SSI recipients’ bank accounts on December 31, 2024. Keep in mind that the SSI check on Black Friday and the SSI check on December 31 are for the next month.
It will be essential to plan your monthly budget and to spend it wisely. The Black Friday payment will not include the 2025 COLA increase. Nevertheless, the SSI check due on December 31 will. Beneficiaries can expect a 2.5% boost. The average amount will be $697, but an individual could receive up to $967.