Presently Social Security is paid on, say, the Third given weekday of each month. For those without any other significant income, that means a new payment sometimes arrives 5 weeks after the previous one. Increasing the amount of time it must cover by 25% is pretty serious. Obviously the scheme came up to level out the payments, to unbulge the work of the payers.
Might I suggest it be paid on the numbered day of the month which corresponds to the number of the person's birthday? Thus if this hypothetical person was born on the 20th, the check would come on the 20th instead of on the 3rd Wednesay.
Comments (6)
Do you have any relatives in this situation?
Is there anything tying social security payments to workdays?
This affects me every month!
My instinct is that this won't change the amount of time between checks if they are distributed monthly. The only way to get around that is by distributing them every 4 weeks or so, even if it is the same month. Am I missing the issue here?
Actually it would help, there are a maximum number of 31 days in a month, so at the very most it owuld only be stretching one's budget by one day rather than the sometimes 6 days that happens, now. And this does affect me almost every month, too. It makes my checking account go into the red when it stretches from 4 weeks to almost 5, costing me overdraft fees I cannot afford on my limited income.
Would you prefer receiving a check every four weeks or so rather than based on the month? Or does that have its own problems?
The different day scheme was how the Clintons fixed social security when they were president.