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As the cost of everyday items continues to rise, many shoppers are looking for ways to save money on groceries and other household items. Some people feel that the savings that come with warehouse club membership are worth the cost. If you have a Costco near you, why not give it a try? Find out why it’s the best investment of the year.
Save money on everyday items with a Costco membership
In addition to groceries, we also have to buy household items such as garbage bags, paper products, toiletries, and cleaning supplies. These items can be expensive at traditional grocery stores. That’s why some shoppers join warehouse clubs like Costco. Keep your Warehouse Club membership card in your wallet to save even more when shopping for household items.
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Many of the essential items you’ll find at Costco are sold in bulk, so they’re cheaper than what you’d pay at a traditional store. By planning your trip to your local club and sticking to your shopping list, you can leave home spending less on the household items you need.
For many shoppers, the total savings from membership benefits is greater than the annual fee. If an annual membership fits your budget, consider becoming a Costco member and putting more money in the bank.
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Executive members can earn up to $1,000 annually
You pay an annual fee to shop at Costco. Gold Star membership, the retailer’s base level membership, costs $60 per year. Executive membership is available for $120 per year and provides additional benefits, such as check printing and lower prices on auto-purchases. But that’s not all. Executive members also earn perks when they shop at Costco. He earns 2% on eligible in-club and online purchases and up to $1,000 in rewards over 12 months.
Rewards accumulate throughout the year. You will receive a benefit certificate after 12 months. Rewards cannot be redeemed for cash, but can be used to purchase eligible Costco items. This could make next year’s shopping more affordable.
This rewards program allows those who regularly shop at Costco to get their annual membership fee back. If you spend $6,000 on eligible purchases in a year, you’ll earn $120 in benefits per year. That means you’ve earned your membership fee back by shopping. Members who spend more money earn more rewards.
Get discounts and earn rewards
Costco membership isn’t for everyone, but it might be right for you. Consider your shopping habits and see if there’s a club near you before joining. When you take advantage of the benefits of a Costco membership to receive discounts and earn perks (if you join as an executive member), this membership could be your best investment of the year.
However, it is important to keep money in mind when shopping. If you’re not careful, you might be tempted to overspend while wandering the aisles of your local club. Don’t fall into the trap of buying things you don’t need. Otherwise, you might regret it when you swipe your credit card at the register. For more money-saving tips, check out our personal finance resources.
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We strongly believe in the Golden Rule. As such, editorial opinions are our own and have not been previously reviewed, approved or endorsed by any included advertisers. Ascent does not cover all offers on the market. Editorial content on The Ascent is separate from editorial content on The Motley Fool and is produced by a separate team of analysts. Natasha Gabrielle has no position in any stocks mentioned. The Motley Fool has a position in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
“Why Your Costco Membership Is Your Best Investment of the Year” was originally published by The Motley Fool.
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