If you’re one of the millions of Americans relying on Social Security, SSI, SSDI, or VA payments, August 2024 is a crucial month for you.
We know how important it is to plan your finances around these payments, especially when they’re the main source of income for many households.
So, let’s get right into the key dates you need to mark on your calendar this month.
Your August 2024 Payment Schedule!
Here’s a simple breakdown of when you can expect your payments as per SSA’s official payment schedule:
- August 1: This is when SSI beneficiaries will get their first payment of the month. If you’re receiving SSI, keep an eye on your bank account on this day.
- August 2: Retirees who started receiving their Social Security benefits before May 1997 will see their payments hit on this date. It’s an early payday for these long-time beneficiaries.
- August 14: If your birthday falls between the 1st and 10th of any month, this is when you’ll receive your first regular Social Security payment in August.
- August 21: For those born between the 11th and 20th, your Social Security check will arrive on this date.
- August 28: If you celebrate your birthday between the 21st and 31st, your Social Security payment will be deposited on this day.
- August 30: Here’s a heads up—because September 1st is a Sunday, the SSI payment for September will be issued a little early, on August 30th.
How to Get the Most Out of Your SSI and SSDI Benefits?
Understanding how your benefits are calculated can make a big difference in what you receive. Here’s a quick rundown:
- SSDI (Social Security Disability Insurance): Your SSDI payment is based on your work history. The more you’ve contributed during your working years, the higher your check can be—up to $3,822 per month.
- SSI (Supplemental Security Income): Designed for those with limited income, SSI is meant to supplement your retirement benefits. In August 2024, the maximum SSI payment is $943. If your monthly income is low and you’re 65 or older (or have a disability), you could qualify for this benefit.
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Don’t Miss These Dates!
To sum it up, here are the key dates to remember in August 2024:
- August 1: SSI payment.
- August 2: Payment for retirees who started before May 1997.
- August 14: First regular Social Security payment (birthdays between the 1st and 10th).
- August 21: Second regular Social Security payment (birthdays between the 11th and 20th).
- August 28: Third regular Social Security payment (birthdays between the 21st and 31st).
- August 30: Advanced SSI payment for September.
Staying on top of these dates will help you manage your money better and avoid any financial hiccups.
And while there aren’t any stimulus checks coming this month, understanding your SSI and SSDI benefits can still help you make the most of what you receive. Here’s to smooth sailing in August!