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Some people join Costco thinking they’ll try it out for a few months or a year and see how things go. That was my attitude years ago when I first became a Costco member myself.
But at this point, I can’t imagine cutting ties with Costco. Here’s why I won’t even think about getting rid of my membership.
1. Buying groceries in bulk saves me much-needed time
As a busy mom with a full-time job, I don’t have time to shop for groceries three or four times a week. And thanks to Costco, I don’t have to.
When I go to Costco, I can pick up about a week’s worth of produce and other refrigerator staples so I’m not constantly having to return to the store. As a freelance writer, that’s huge, because the more time I have to work, the more I can earn. So buying in bulk at Costco actually helps me earn more by saving me time.
2. Costco’s bakery is my family’s favorite bakery in town
In my area, there’s a host of different bakeries to choose from. But my husband, kids, and I all agree that Costco’s bakery is far superior to the other options we’re privy to.
Now, part of that boils down to getting value for your money. I can get a decent muffin at a bakery about five minutes from my house, but there, I’m paying $4 for a single average-sized muffin. At Costco, I pay $9.99 for 12 giant-sized muffins that my kids and I split, since half of a Costco muffin is usually more than enough as a serving.
Also, we just really love our Costco muffins — the taste, flavor, and consistency (they’re super fluffy, whereas other muffins I’ve had were far more dense). And Costco also happens to make a pretty good apple pie, which is a staple at our Thanksgiving table. So all told, we love the bakery for both the prices and the actual items it sells.
3. My membership saves me much more than it costs
I pay $120 a year for an Executive membership at Costco, which is twice the cost of a basic membership. But because I save well more than $120 a year, I feel like I’m not actually paying to join.
First of all, my membership gives me 2% cash back on my Costco purchases. Since I spend about $100 a week at the store, that’s $5,000 a year, so I get $100 of that back off the bat.
But on top of the cash back from my Executive membership, by my estimates, I’m saving $20 a week on the cost of groceries and things like cleaning supplies and paper towels compared to what I’d spend at a regular supermarket. So when you think about it that way, I’m getting $100 cash back plus saving another $1,000 per year on top of that due to Costco’s low prices. All told, keeping my membership is a financial no-brainer.
Should you get a Costco membership?
An impressive 73 million people now have Costco memberships. That doesn’t automatically mean you should sign up for one. But it does pay to tag along with a friend who’s a member, check out the store’s prices and inventory, and try to calculate how much money you might save per week or month by shopping there. You may find that it’s worth springing for a membership and giving Costco a try.
And remember, the nice thing about getting a Costco membership is that you can cancel and get refunded at any time. So if you join and find that you’re not saving as much as expected, there’s really no financial risk.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
