Submitted by emm on Tue, 09/17/2024 - 10:55

When you are receiving Social Security benefits each month it’s important to know when your benefit money will arrive so that you can plan your budget and household spending.

If you are one of the many people that relies on Social Security benefits to get by understanding the 2024 Social Security benefit payment schedule will make it easier for you to manage your finances.

The money that you receive from the Social Security Administration can be spent on any of your living expenses in most cases.

The only exception is that if you are receiving SSI for a child that is disabled you do have to document how you are spending that money so the SSA knows it’s being spent on the child’s expenses.

But if you are receiving any other kind of Social Security benefits you can spend that money on expenses like medical care, housing, food, utilities, or any other necessities.

Keeping track of the 2024 Social Security payment schedule will help you make the most of the money that you receive, pay your bills on time, and maintain good credit.

Types of Social Security Benefits That You Could Receive

You could be receiving one of a number of different types of Social Security benefits. The Social Security Administration has many different types of benefits that are awarded to people in various circumstances. You could qualify for any of these benefit programs the SSA offers:

Retirement Benefits

Social Security retirement benefits are what many seniors rely on to get by. You are eligible for Social Security retirement benefits if you have earned at least 40 work credits during the years that you worked.

That means you must have worked for at least ten years, because you can earn up to 4 work credits per year.

The exception to the rule about earning work credits is for stay-at-home spouses. If you were a stay-at-home spouse and never worked, but your spouse did, you can claim Social Security retirement benefits through your spouse as long as your spouse has at least 40 work credits.

The earliest someone can start claiming retirement benefits at 62. But it’s recommended that you wait to start claiming your benefits if you can. The longer you wait, the more money you will get for your benefit amount.

If you wait until the maximum age, which is currently 70, to start claiming benefits you can receive the maximum retirement benefit.

If you start drawing retirement benefits anytime between ages 62-69 you will only receive a portion of the maximum benefit payment.

Social Security Disability Insurance (SSDI)

If you worked in the past but at some point you became disabled and unable to work you may be receiving SSDI, or disability benefits.

When you apply for SSDI the application can take a long time to work through the Social Security system, but if your application is approved you will receive backpay for the time you had to wait.

You have a better chance of getting your application for SSDI approved on the first try if you include enough medical documentation to show that you meet all of the SSA’s requirements. Working with a disability attorney can improve your chances of getting an approval.

Supplemental Security Income (SSI)

If you’re an adult that has had a disability since childhood and you have never been able to work you may qualify for SSI.

Supplemental Security Income is paid to adults that have never been able to work to help them pay for living expenses.

If you’re a parent and you have a child that is disabled and money is tight you can apply for SSI on behalf of your child.

You will need to submit W-2s, tax returns, or other financial proof showing the income of each adult in the household that works full-time.

The total income for the household must be below the cap set by the SSA in order for your application to be approved.

If the application is approved, you will need to keep documentation showing how the SSI money is spent to prove that it’s being spent on the child’s living or medical expenses.

Survivor Benefits

When a spouse dies it can be financially devastating for the remaining spouse. If your spouse was the main earner in the house and they pass away you may qualify for survivor benefits from the SSA. Your children may also be eligible for survivor benefits.

Children can receive survivor benefits if they are under 18, or over 19 and still in high school, or if they are an adult that was disabled before they turned 22. Adopted children and stepchildren qualify for survivor benefits too.

Spouses who disabled can receive survivor’s benefits starting at 50. Spouses who are 60 or older and not disabled can also qualify for survivor benefits.

If a deceased worker’s parents are elderly and dependent on the worker for 50% or more of their income, they can also qualify for survivor benefits.

Overview of Social Security Payment Schedule 2024

The 2024 Social Security payment schedule for most benefits runs on a weekly disbursement schedule.

All benefits except for SSI are paid out on a series of Wednesdays throughout the month. The schedule is based on the birth date of the person who receives the benefit.

SSI is paid differently. If you are receiving SSI for yourself or a child, you will always receive SSI at the beginning of the month, or the last date of the month if the first day of the month falls on a weekend or holiday, regardless of your birthdate or the child’s birthdate.

Social Security Benefit Payment Dates for October 2024

Social Security benefit payment dates for October 2024 fall on:

Tuesday, October 1
Wednesday, October 9th
Wednesday, October 16th
Wednesday, October 23rd

If you are scheduled to receive any type of payment from the Social Security Administration it should arrive on one of those days, depending on when your date of birth is.

If you are receiving SSI you will get your October 2024 SSI payment on Tuesday, October 1.

People that are receiving other types of Social Security benefits will receive their October 2024 Social Security benefits on these dates:

Wednesday, October 9th – If your birthdate is the 1st-10th of the month.
Wednesday, October 16th- If your birthdate is the 11th-20th of the month.
Wednesday, October 23rd If your birthdate is 21st -31st of the month.

If you are not sure what date your benefits should arrive you can also check your account on the Social Security Administration’s website.

Will There Be An Extra Social Security Benefit Payment In October?

Because of the way that the calendar runs there are some months where there is an extra Social Security benefit payment in that month.

That won’t happen in October 2024. There will be no extra Social Security benefit payment in October 2024.

Payment Methods

Back before electronic banking was available the Social Security Administration offered people the option to get their benefits paid through a paper check that was mailed to their home or to get an electronic deposit. But now, the SSA only offers electronic options.

Electronic payment methods are often more reliable than mailed checks, and it means that you will never get stuck with a late check if the mail is late because of a holiday or disaster.

Electronic payments should hit your bank account the morning of the day that you are supposed to receive the payment.

If you choose to have your Social Security benefit payment deposited into your checking or savings account it may be a day or several days before your bank releases the funds. Check with your bank to see what their funds availability policy is.

If you don’t have a bank account, or if your bank holds deposits and you don’t want to wait for your money, you can choose to have your benefit money deposited onto a Direct Express card.

The Direct Express card is the SSA’s own debit card. You can sign up for the Direct Express card through your account on the SSA’s website.

The Direct Express card works like a regular debit or credit card. The money is electronically loaded onto the card, then you can use the card to pay bills or withdraw cash at an ATM.

Important Considerations

Once a year the SSA may raise the amount of your benefit, if there has been a Cost-of-Living-Adjustment. If that happens the increase will start with your January 2025 Social Security benefit payment and continue through 2025.

Social Security benefits don’t change throughout the year. So, you should be receiving the same amount of money every month during the year.

If you don’t receive the same amount every month you should contact the SSA to find out why.

If you have questions about what date your Social Security benefit payment will be deposited into your account or onto your Direct Express card you can always check your account on the SSA’s website. You can also call or email the SSA directly and ask about your payment date.

Managing Your Benefits

Making your benefit money stretch is a big concern for a lot of people that rely on Social Security benefits. Especially today, when things are more expensive than ever, many people are looking for new ways to stretch their money as far as they can. Some tips that might help you make those benefits go further include:

Get on budget billing plans if your utilities offer them. That way you know exactly how much money you will owe for your utilities each month. Most utility companies have budget-friendly payment options too if you are behind and need to catch up your bill.
Plan your meals weekly and shop according to sales so that you can get the most food for your money. You may want to try some indoor gardening and grow your own vegetables like tomatoes in containers at home to save money.
Stock up on pantry essentials when they’re on sale like flour, sugar, and whole ingredients. If the money is running low before your next payment date you can use those pantry staples to make good meals.
Set money aside for emergencies. When you do receive your benefit payment stick some of it into a savings account or use your Direct Express card to withdraw some cash and keep that to help out if things get tight at the end of the month.

Next Steps To Take

If you are receiving SSI, you should always receive your 2024 SSI payment on the 1st of the month, or the Friday before the first if the first falls on a weekend or holiday.

If you aren’t sure when you should be receiving your October 2024 Social Security benefit payment, or if you’re not sure what your Social Security benefit payment date is you can always check your MySSA account on the SSA’s website. The date of your payment and the amount you receive should be visible in your account.

If you are waiting for your SSDI because your disability application hasn’t been approved yet you should speak with a disability lawyer.

Getting your application for SSDI approved can be a slow process because it’s complicated. Working with a disability attorney is a good way to make the process easier.

A disability attorney can help you understand the application process, how to fill out the application documents, and advise you what documentation you need to include with your application to increase the chances of approval.

Disability attorneys don’t get paid until your application is approved. And their fee is paid by the SSA directly, so you don’t ever have to pay out of pocket or up front.

Fill out a Free Case Evaluation now to get connected with a participating disability attorney who can answer your questions and help you start your application for Social Security benefits.

Sources:

Social Security Payment Schedule: Exactly When to Expect Your Checks in October 2024