6 Costco Buys That Financial Advisors Recommend To Their Own Families
Costco is a great place to shop for bulk buys and bargain finds, but we wanted to know what financial advisors gravitate to when they head to their local warehouse.
We asked around and found out not only what financial advisors buy for their own homes, but also what products they recommend to their family and friends — the last one might surprise you.
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Gas
Bobbi Rebell, certified financial planner (CFP), certified financial therapist (CFT) and founder of Financial Wellness Strategies, said she sees the biggest Costco ROI (return on investment) showing up at the gas pump.
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As of this writing, the AAA national average for fuel prices was $4.09 while Costco Gas Prices cited the Costco average at $3.84. Rebell said that on a recent trip to fill her tank, she paid 24 cents less per gallon at Costco than the average in her area.
Peanut Butter and Nuts
Trae Bodge, smart shopping expert with TrueTrae.com, said that Kirkland Peanut Butter and Kirkland Unsalted Mixed Nuts are her Costco go-tos.
“Nuts have become very expensive,” she said, "so we really appreciate the value and the mix of nuts, which includes macadamias, pistachios and pecans, which you don’t always find in a nut mix.” She also loves that the peanut butter comes in two-count packs, so there’s always an extra one on hand.
Weekly Staples
Austin Watton, financial advisor with Northwestern Mutual, heads to Costco for some of his produce — usually avocados, bananas, lettuces and apples. He also goes for other weekly staples, including milk, eggs and microwave popcorn. These items are “far and away the best cost per item available,” he added.
Paper Products
When you buy your paper goods in bulk, you’re not only saving a bit of money, you’re also saving time.
“Time sometimes has as much, if not more, value than money, so we should consider both the financial savings when we buy something as well as the convenience and the time it saves us to get more things we need at the same time, at the same place and in enough volume that it lowers the number of shopping trips we have to take,” Rebell said. She also noted that you save on gas when you make fewer trips to the store.
Clothes
Watton said that he recommends Costco clothes to family and friends for the great values that Costco offers To keep the budget under control, however, he said to only plan on getting less than five things at a time.
Samples
Everyone loves a free sample, even financial advisors. Watton said that while you should only head to Costco for the must-haves, you can also head in for free samples. “Bonus point for taking the kids there for a free sample or two on the weekends,” he added.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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