OMAHA, Neb. (KMTV) — With inflation raising the prices of nearly everything. In 2023 there is a big cost of living adjustment for social security recipients.
"We just got my first one the other day and noticed a big difference," said John Agee, a La Vista resident.
People on social security are now seeing the largest increase in more than 40 years.
"I felt pretty good. I know we usually get one every year but it varies a lot you know. It was nice that it was a little bit higher this year. Everything is so expensive," said Eula Gawerecki, an Omaha resident.
Although Gawerecki doesn't rely solely on social security, she said it will help.
"Well that will help give me a little cushion each month for any unexpected expenses, car expenses you know whatever," Gawerecki said.
Benefits will increase by 8.7%, boosting payments by at least $140 a month.
"I feel good. It's been a long time since we have gotten a good increase and the 8.7 is going to help out with groceries and gas. We are loving it," Agee said.
The increase raises monthly payments to an average of $1,827.
"Groceries and gasoline has been the worst two for us. But this is going to help out quite a bit," Agee said.
While many are excited for this additional money to hit their bank accounts, some people 3 News Now reporter Molly Hudson spoke to off camera said it's not enough.
But for Gawerecki, the hike in payment doesn't call for a shopping spree.
"But I still don't just go out and spend. I watch what I spend because I have my rent and utilities and all that to pay for too so. I don't want to get myself in any deep water you know," Gawerecki said.
And even though most checks are still in the mail, some have their eyes on the future.
"Getting another good one next year would be good," Agee said.
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