On November 29, 2024—Black Friday—eligible Americans will receive a Supplemental Security Income (SSI) payment from the Federal Government.
This special disbursement helps beneficiaries manage their finances during the holiday season, aligning with the Social Security Administration’s payment schedule.
Here’s everything you need to know about eligibility and the details of this federal benefit.
What is Supplemental Security Income (SSI)?
SSI is a federal program designed to assist individuals with limited income and resources. Payments are aimed at helping cover basic needs such as food, clothing, and shelter. It is primarily intended for:
- Individuals who are 65 or older.
- Individuals with a disability.
- Individuals who are blind.
Eligibility for the Black Friday Payment
To qualify for the $697 payment on November 29, 2024, you must meet the following criteria:
1. Current SSI Recipient
Only individuals who are already enrolled and approved for SSI benefits will receive the payment. If you have not applied for SSI or your application is still pending, you are not eligible for this disbursement.
2. Income and Resource Limits
SSI recipients must have limited income and few financial resources. The thresholds include:
- Countable resources: Up to $2,000 for individuals or $3,000 for couples.
- Monthly income: Must fall below federally set limits, which vary by household composition and state.
3. Disability, Blindness, or Age Requirement
You must meet one of the following conditions to qualify for SSI payments:
- Be blind.
- Have a qualifying disability.
- Be at least 65 years old.
Why is the Payment on Black Friday?
Typically, SSI payments are issued on the 1st of each month, unless that date falls on a weekend or federal holiday.
For December 2024, the payment is being advanced to November 29 (Black Friday) because December 1 falls on a Sunday.
Although the timing coincides with Black Friday, this scheduling is purely administrative and not intended to coincide with shopping events.
Recipients are encouraged to use the funds to manage essential expenses rather than splurge during holiday sales.
Will This Be the Last Payment of 2024?
No, the Black Friday payment serves as the December payment but is not the final check for 2024. The January 2025 SSI payment will also be sent early, on December 31, 2024, since January 1 is a federal holiday.
Important Note:
- The December 31 payment will include the 2025 Cost-of-Living Adjustment (COLA), reflecting a 2.5% increase. This adjustment will raise the average SSI payment from $697 to approximately $714, with maximum payments reaching $967 for some individuals.
Plan Wisely for Black Friday and Beyond
To make the most of these payments:
- Budget Effectively: Treat the Black Friday payment as your December allowance, ensuring it lasts through the month.
- Anticipate COLA Adjustments: The December 31 payment will reflect the 2025 COLA increase, providing slightly more financial relief moving forward.
While the November 29 disbursement can help with holiday expenses, it’s crucial to prioritize essential needs like food, rent, and utilities.
