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يوليوOctober Social Security Payments: Here's When You'll Get Your Money
However, those payment dates change if the first or third day of the month falls on a weekend. The same will apply in December for January payments. 1 fell on a Saturday this year, so SSI recipients received their October Social Security payments a day early, on Sept. 30, and received their SSI payment on Monday, Oct.
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Most Social Security payments for October have already gone out, with just two payment dates left. We'll explain why below and how the timing of Social Security payments works. And while you won't see a benefits increase on your check this month, you can expect a higher amount on your checks starting in 2023. Those who receive Supplemental Security Income will see their increase starting in December.
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If your check doesn't arrive on the date listed above based on your birth date or other circumstances, the Social Security Administration says to wait three additional mailing days before calling. If you still haven't received it, you can then call 800-772-1213 to speak with a representative.
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Read on to find out when you'll get your Social Security check this month and how your payment date is determined. Here's how to pause them and potentially get a larger amount later. Also, here's the best time to start collecting your benefits and how to apply for Social Security Disability benefits. Just started receiving Social Security payments?
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(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila and Arun Koyyur)
If you received Social Security benefits before May 1997, or if you receive both Social Security and SSI, the payment schedule is different. What if I receive both Social Security and SSI? Instead of getting your payments on a Wednesday, you'll receive your Social Security payment on the third day of each month and your SSI on the first day of each month.
That might be the reason you got into debt to begin with -- and that's OK. But adding an extra source of income can help you tackle any kind of debt faster, including your credit card's.
With the Fed poised to hike interest rates as early as next week to reduce inflation, you could be on the hook for higher interest payments if you don't act quickly. In addition to likely fee increases, credit card interest rates -- advertised in the form of "APR" -- are also expected to rise. If you're one of the many Americans who took on more credit card debt in recent months, consider this a good time to pay down your balances.
Using your credit card is about to become more expensive -- not only because interest rates are expected to increase. Companies may also start passing higher costs for credit card transactions onto customers.
How are Social Security payment dates determined? Payments for SSI recipients generally arrive on the first of each month (see below). The Social Security Administration sends out payments on three different Wednesdays of each month -- the second, third and fourth. On which Wednesday you receive your money depends on your birth date.
It'll have details about your individual benefit rate increase for next year -- you can also access your benefits online on the Social Security Administration's website. Just make sure you sign up for a My Social Security account by Nov. Also in December, keep an eye on your mailbox for a letter about your Social Security benefits increase for 2023.
The average US consumer has around three credit cards, so there's a chance your credit card debt is spread across multiple balances. There are two popular methods for paying down multiple balances: the snowball method and the avalanche method.