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New Social Security Update, Value Of $4,555 Direct Payment to Drop In Days

Direct Payments
Direct Payments ( Photo: Reader's Digest )

In June 2023, millions of Americans are looking forward to their sixth Social Security payment of the year. These payments are highly anticipated as they are backed by the recent Cost of Living Adjustment (COLA).

Direct Payments

Direct Payments ( Photo: The US Sun )

Payments scheduled by the recipient’s date of birth provide financial assistance to millions of people and reduce the impact of rising costs of living

The date of birth plays a decisive role in determining the exact date of payment. Those born between the 1st and the 10th of each month will receive their checks on the 14th. People with birthdays between the 11th and 20th receive their pay on June 21st, but those born between the 21st and 31st have to wait until the 28th.

In this routine, it’s important to keep an eye out for possible social security fraud. Fraud is rampant, with the Social Security Administration revealing $7.9 billion in improper payments made in 2019 alone.

A study found that consumers spend five times more on food delivery than they spend on home-cooked meals

According to the personal finance website Money Under 30, just eating leftovers can save you up to $1,000 a year. Grocery spending is another area where cost-cutting measures will be taken. Daily takeout orders and delivery charges can add up quickly and strain your budget. Fuel and heating costs are also areas where savings can be made. With petrol prices at seven-year highs, small changes like maintaining proper tire pressure, a smoother ride, and less idle time can add up to big savings.


READ ALSO: More Than $356 Million Has Been Spent On Housing Projects, But Many People Are Still Homeless

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