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Some increases may be relatively insignificant, but certain recipients may receive more than $1,000 monthly.
Here are the fourbest ways to use the extra money.
Pay Down Credit Card Debt
Credit card debt is an unfortunate reality for many older Americans.
High-interest debt makes it challenging to manage other financial responsibilities.
The impact intensifies for Americans who rely on Social Security benefits for a bulk of their income.
Using additional funds from monthly checks reduces interest and, eventually, eliminates debt.
Eradicating debt is particularly important for retirees who may be more prone to unexpected medical expenses.
This helps manage unplanned medical expenses and avoid liquidating investments to cover costs.
However, a growing number of older Americans are carryingmortgages.
This can be problematic for people on a fixed income.
Dividend-paying stocks can provide an additional source of income when done wisely.
Moreover, despite overall market turmoil, some dividend-paying stocks have had substantial gains in 2025.
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