As October comes to a close, millions of retirees have already received their Social Security payments for the month. With Black Friday just around the corner on November 29, 2024, many people are eyeing their next Social Security or Social Security Disability Insurance (SSDI) payments to help cover potential holiday shopping expenses.
Here’s a breakdown of what to expect for November payments, especially for those planning to make purchases before Black Friday.
Social Security Payments
The Social Security Administration (SSA) has scheduled several payments in November that could help recipients prepare for Black Friday shopping. Let’s look at the key payment dates.
November 1 Payments
On November 1, 2024, Social Security will issue payments for:
- Those who began receiving Social Security or SSDI benefits before May 1997
- Recipients of Supplemental Security Income (SSI) who are also eligible for Social Security
These recipients will receive two payments—one for SSI and one for Social Security—on the same day. If you fall into this group, your Social Security payment for November 3 has been rescheduled to November 1 since November 3 falls on a Sunday. This ensures you get your money earlier in the month.
Payments Before Black Friday
The SSA has also scheduled three additional payment dates for retirees and SSDI recipients:
- November 13: For those born between the 1st and 10th of any month
- November 20: For those born between the 11th and 20th
- November 27: For those born between the 21st and 31st
If your birthday falls in these ranges, you can expect to receive your payments on one of these dates, giving you access to your funds before Black Friday on November 29.
| Birthdate Range | Payment Date |
|---|---|
| 1st – 10th | November 13, 2024 |
| 11th – 20th | November 20, 2024 |
| 21st – 31st | November 27, 2024 |
SSI Recipients
SSI recipients will receive their December payment early, on Black Friday, November 29, 2024. This is because December 1 falls on a Sunday, so payments are issued in advance. For many SSI recipients, this means two payments in November: one on November 1 and another on November 29.
Social Security Payments
With the holiday season approaching, many retirees and SSDI recipients may consider using their Social Security checks to take advantage of Black Friday deals. Here are a few things to keep in mind as you plan:
- Inflation and Rising Prices: While Black Friday offers discounts, keep in mind that inflation has caused prices on many goods to rise. Budgeting carefully for gifts or holiday treats is essential, especially if your Social Security check is your main source of income.
- Average Payment Amounts: The average Social Security payment for retirees is about $1,920 per month, while high-earning retired workers may receive up to $4,873 per month. Knowing your benefit amount can help you plan your Black Friday spending.
| Group | Average Payment | Maximum Payment |
|---|---|---|
| Retirees | $1,920 | $4,873 |
| High-Earners | — | $4,873 |
- Dual Payments for SSI Recipients: If you receive both SSI and Social Security, be mindful that your SSI check on November 29 is actually your December payment sent early, so it should be factored into your December budget as well.
Black Friday
If you plan on using your Social Security or SSDI payments for Black Friday, now is the time to start preparing. Here are a few tips:
- Budget Wisely: While Black Friday offers tempting deals, make sure you allocate enough of your payment for essential expenses like rent, groceries, and medical care before splurging on gifts or treats.
- Track Payment Dates: Knowing exactly when your Social Security check will arrive helps with planning. If your payment falls on November 13, 20, or 27, you’ll still have time to use it for Black Friday shopping.
- Consider Early Deals: Some retailers offer early Black Friday deals in the weeks leading up to the event. If your payment comes in early November, you may find opportunities to shop ahead of the rush.
November brings several Social Security payment dates, all landing before Black Friday. If you began receiving benefits before May 1997 or collect both SSI and Social Security, your first payment will arrive on November 1. For others, payments will be made on November 13, 20, or 27, depending on your birthdate.
For SSI recipients, the December payment will be issued early on November 29, giving you another opportunity to plan for holiday spending. Whether you’re saving up for gifts or planning to treat yourself, knowing your payment schedule is key to making the most of Black Friday.
FAQs
When will I receive my Social Security payment in November?
It depends on your birthdate. Payments will be issued on November 1, 13, 20, or 27.
Will SSI recipients receive their December payment early?
Yes, SSI recipients will receive their December payment on November 29, 2024.
How much will I get from Social Security in November?
The average Social Security retirement benefit is around $1,920 per month, with high earners receiving up to $4,873.
Can I use my Social Security payment for Black Friday shopping?
Yes, if your payment arrives before Black Friday, you can use it for holiday purchases. Just make sure to budget carefully.
What if my payment falls on a weekend or holiday?
If your payment is scheduled for a weekend or holiday, it will be sent on the previous business day. For example, November 1 payments are issued instead of November 3, which falls on a weekend.
