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In case you haven’t noticed, raising kids is expensive. In fact, depending on the rate of inflation, you could be spending roughly $300,000 to raise a child to age 17, according to research assembled by The Motley Fool Ascent.
Regardless of how much it costs exactly, most parents know how it feels on their personal finances. Of course, there are ways to cut back on your spending, such as joining Costco. A basic annual membership costs $60, but that money could easily be earned back in savings. While Costco can save you money in many areas of your finances, here are five reasons parents should consider joining.
1. Baby supplies
For newborns, Costco can help you save on diapers, wipes, baby clothes, formula, diaper rash cream, and other baby necessities. In fact, its diaper costs are so cheap, even its sale price of the popular brand Huggies is cheaper than other retailers.
| Retailer | Diaper size 1 to 2 (per diaper cost) |
|---|---|
| Costco | $0.24 |
| Walmart | $0.29 |
| Amazon | $0.34 |
Data source: Merchants’ websites.
And this is for a name brand, too, which isn’t the cheapest diaper you could buy at Costco. If you opted for the lowest price, you could buy the Kirkland Signature diapers, which cost $34.99 online for 192, or roughly $0.18 per diaper. That unit price is super hard to beat, no matter where you shop.
Other Kirkland baby necessities are also cheaper by the unit-price, though you might want to comparison shop for larger items, like baby monitors and car seats. Although you can find decent prices at Costco, you might find these items on discount at other retailers, like Target or Walmart.
2. Clothes
Costco’s clothing section is one of its greatest underappreciated savings perks. True, it’s not as aesthetically pleasing as the arrangement of mannequins and styles at more popular clothing stores (truth be told, it kinda resembles a garage sale with its flat tables and piles of clothing). But when you’re looking for kids’ clothes, this section can be a treasure trove of attire.
And you’ll find great deals on name-brand items in addition to brands you never heard of. For example, Costco currently sells a PUMA kids’ three-piece fleece set (hooded jacket, shirt, and joggers) for $14.99. Walmart sells a similar PUMA three-piece set for $24.99 — a full $10 more!
3. Quick meals
Most parents know that when their kids play a sport or engage in extracurricular activities, the sport or activity becomes theirs, too. Whether it’s taking kids to play softball every Saturday or driving across the state for a band competition, parents’ lives can get hectic, leaving less time for other important things, like meal preparation.
If that rings true for you, Costco can make things easy by providing you with an ample supply of easy-fix meals, like hot dogs, hamburgers, sandwich meats, macaroni, and other easy options. Costco can be especially useful if you or your spouse frequently invite your kids’ teams (or even a group of friends) over for practice, as you can buy in bulk and feed many more mouths at a lower price.
4. Snacks
Much like having quick meals on hand, Costco also makes it easy (and cheap) to have plenty of snacks in the cupboard. One of my favorite Costco items, in fact, is its variety snack box. This box comes with 51 different snacks, ranging from nuts to trail mix, and costs about $0.65 per snack pouch. If you’d rather have something healthy, Costco also sells a 65-piece Healthy Snack Box, which includes granola bars, dried cranberries, and low-calorie snacks, for $44.99.
5. Buying in bulk saves time
And trust me — saving time is almost as valuable as saving money. Having an ample reserve of snacks, meals, diapers, wipes, trash bags, paper towels, toilet paper, and other necessities will keep you from driving the kids to the grocery store each week and hoping they behave. While you still have to drive the kids to Costco — which can be hectic — you could still cut your trips down (and maybe entice kids to behave with a trip to the food court).
Truth be told, Costco can help you save on your kid-related expenses. It might even be worth upgrading to an Executive membership to get 2% back on all your purchases. At the very least, it could help you earn back the price of the membership ($120), thus making your Costco membership free.
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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.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Amazon, Costco Wholesale, Target, and Walmart. The Motley Fool has a disclosure policy.
