If you are a veteran who receives VA disability compensation, you may be wondering when you will get your monthly payments in 2023. VA disability pay dates are based on the first business day of the following month unless it falls on a weekend or a holiday. In that case, the payment will be made on the last business day of the previous month.
VA Disability Pay Dates 2023 Calendar
Here is the month-wise payment schedule for VA disability compensation in 2023:
| Month | Payment Date | Day of Week |
|---|---|---|
| January | February 1 | Wednesday |
| February | March 1 | Wednesday |
| March | March 31 | Friday |
| April | May 1 | Monday |
| May | June 1 | Thursday |
| June | June 30 | Friday |
| July | July 31 | Monday |
| August | September 1 | Friday |
| September | September 29 | Friday |
| October | November 1 | Wednesday |
| November | December 1 | Friday |
| December | December 29 | Friday |
You can also download a printable version of the VA disability pay dates 2023 calendar.
How to Calculate Your VA Disability Pay
Your VA disability pay depends on your disability rating and your number of dependents. The VA assigns you a disability rating based on the severity of your service-connected condition, ranging from 0% to 100%. The higher your rating, the higher your monthly payment. You can also get additional payments if you have a spouse, children, or parents who depend on you for support.
The VA updates the disability compensation rates every year based on the cost-of-living adjustment (COLA). For 2023, the COLA is 8.7%, which means that you will get an 8.7% increase in your VA disability pay compared to 2022. You can use the VA disability calculator to estimate your monthly payment amount based on your disability rating and dependent status.
How to Receive Your VA Disability Pay
The easiest and fastest way to receive your VA disability pay is by direct deposit. You can set up direct deposit online through your VA.gov account, or by calling the VA at 800-827-1000. You can also change your direct deposit information online if you need to update your bank account or routing number.
If you don’t have a bank account or prefer to receive your VA disability pay by check, you can do so by mail. However, this may take longer and pose a risk of lost or stolen checks. You can also request a prepaid debit card from the VA to receive your payments electronically without a bank account. You can learn more about the prepaid debit card option.
Tips for Managing Your VA Disability Pay
Your VA disability pay is a tax-free and lifelong benefit that can help you cover your living expenses and medical bills. However, it can also be challenging to manage your money and budget wisely, especially if you have a fluctuating income or unexpected expenses. Here are some tips to help you manage your VA disability pay:
- Create a budget and track your spending: A budget can help you plan your income and expenses, and avoid overspending or going into debt. You can use a spreadsheet, an app, or a paper planner to create and track your budget. You can also use the VA money management tool to get personalized guidance and resources on how to manage your money.
- Save for emergencies and goals: It’s important to have some savings for unexpected emergencies, such as medical bills, car repairs, or home maintenance. You should aim to save at least three to six months of your living expenses in an emergency fund. You can also save for your long-term goals, such as retirement, education, or travel. You can use the VA savings calculator to estimate how much you need to save and how long it will take you to reach your goals.
- Seek financial assistance or counseling if you need help: If you are struggling to pay your bills, debts, or taxes, you can seek financial assistance or counseling from various sources. You can contact the VA’s Debt Management Center at 800-827-0648 to request help with your VA debts or benefits overpayments. You can also contact the VA’s Financial Literacy and Education Program at 800-827-1000 to get free financial counseling and education. You can also explore other financial assistance programs for veterans.
Conclusion
VA disability pay is a valuable benefit that can help you cope with the effects of your service-connected condition. By knowing the VA disability pay dates for 2023, you can plan your finances and budget accordingly. By using the VA disability calculator, you can estimate your monthly payment amount based on your disability rating and dependent status. By choosing direct deposit, you can receive your VA disability pay faster and more securely. By following the tips for managing your VA disability pay, you can improve your financial well-being and achieve your goals.
