Free samples, good gas prices and saving money with the coupon books; but Costco might be increasing the membership fee this year. How much more will you pay to be a member? Is it still worth it to be a member? Should you stay with Costco or go to another warehouse store? These are all questions you have to answer, but we are going to help you figure out what your answer will be.
Costco announced that the membership fee typically increases every five or six years. Based on that information, 2017 is the year that another increase is expected. This year, Costco is raising the membership fee by 10%. The basic membership will now most likely be increased to $60 per year and the executive membership will increase to $120; a $5-10 increase depending on whether you enjoy a basic membership or an executive.
Is The Fee Worth It?
Deciding if having a membership will save you money is a personal decision. There are many ways big warehouse stores can save you money. But, you can easily end up overspending in items you can’t use or don’t need. When deciding if a membership is right for you, consider these questions:
- Do you live close enough to access the store easily?
- Can you use the bulk items before they go bad?
- Are you able to stick to your list and not overspend on unnecessary items?
- Would buying in bulk save your family money?
- Do you buy enough items to still save money after you pay the membership fee?
Each of these questions is going to be answered differently for every person. I am not an executive member because I don’t spend enough money each year to justify the cost of the membership. I don’t buy produce at Costco because my family can’t use it all before it goes bad. But I always buy diapers, wipes, toilet paper, paper towels, cereal, milk and frozen and refrigerated food because the prices are so much better than at any other store; especially when these items are on sale in their coupon books. For me, the basic membership saves me money and I know what not to buy so I don’t waste money. By answering these questions you will know whether or not the slightly higher membership will still be worth being a member.
Costco Or Sam’s Club?
The two basic warehouse stores to choose from are Costco and Sam’s Club. Both of these stores charge a membership fee and offer better deals on the items purchased in the store. The fee for the basic membership to Sam’s Club is $45 per year, with the most elite membership being $100. These fees are less than Costco, but one article found that Costco’s per-unit prices were lower than Sam’s. Deciding which warehouse you become a member of will be determined by where you live and which store offers the best price for the items you need.
Don’t let the membership fee increase at Costco scare you away. Most likely you will save that money on one trip to the store. Are you going to renew your membership if the fee increases?