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Costco Membership- Is it Worth it?

Costco Membership- Is it Worth it?

Is a Costco membership worth the cost? I mean, sure – buying in bulk can be great – sometimes. But if you add in the extra cost that you are paying for a membership, is it really worth it in the long run? The last couple of months I have been thinking about getting a membership, so I thought I would do some research first!

Let’s break it down.

The Gold Star Membership is priced at $55 a year and is available for individuals who want to purchase products mainly for personal use. This is great for individuals and households. You can also get the Executive membership for $110 a year. This comes with a 2% cash back reward and ends up being just under $5.00 a month. Not bad hey?!

Price is definitely a high priority, especially for us Millennials! We are constantly trying to keep every nickel and dime we have. Sure, a good shopping experience is important too but when it comes down to it, you will most likely choose a store based on price over experience if there is a big difference in the price.

Buying in bulk at Costco might not save you THAT much but savings are savings and if you shop there often the savings will add up. Families or groups of roommates who share food benefit the most  from Costco and the large volume packaging.

Perks of shopping at Costco:

1. Free Samples
Who can say no to free food? You can go into Costco during lunch and get filled up on just free samples! They are always giving away free food, and they taste delicious! This is a great way to try foods you wouldn’t normally purchase! It’s always good to switch things up a bit!

2. Refunds/Returns
Costco has an incredible refund policy!  Basically anything can be returned for refund at anytime except cameras, computers and electronic items have a 90 limit. ANY REASON! Not to mention, Costco will refund your membership fee in full at any time if you are dissatisfied. This gives me more of a reason just to go try it out!

3. Coupons
The Costco coupon books are pretty good. It’s an easy way to find good deals and purchase a few things that are on sale that month.

4. Gas
Costco gasoline is usually 5-10 cents cheaper than other gas station. You can just go there and don’t have to worry about finding the cheapest gas station. Pretty convenient I’d say!

Cons of a Costco Membership:

1. Membership Fee

2. No bags to carry stuff home

3. You’re forced to buy in bulk

4. Prices are not always better than other stores

5. Potentially wasteful

To me, the pros outweigh the cons! The benefits of having a Costco membership seem great, if buying in bulk is ideal for you!

At this moment in time I don’t think that Costco is the best option for me. I travel a lot for my job and I am not home as much to cook dinner, so I would probably end up throwing most of the food away and wasting money! If I had more people to share the food with, I would absolutely get a membership! For those of you who live with multiple roommates and travel to the store frequently, purchasing a membership is a great choice!

What are your thoughts on a Costco Membership? Is it worth it? Let us know in a comment below or tweet at me @c1styourvoice

Posted on Sep 18, 2013, in Money Saving Tips and tagged Costco, Food, Groceries, Price, Shopping

Any information contained within the contents of this blog are opinions and suggestions of the writers and do not necessarily reflect any policies or positions of the credit union. Any reference made to products or promotions are not guaranteed at any time. This information is not intended to be considered financial advice. It is provided for your education only. Community 1st Credit Union is Federally Insured by the NCUA.