5 Costco Mistakes That Can Waste Your Membership — and How To Get Your Money's Worth
You’re about to take the plunge and buy your first Costco membership. Or perhaps you’ve been a member for years, proudly espousing the virtues of all things Kirkland to anyone who will listen.
Either way, that Costco membership costs you a pretty penny every year — $65 for the standard Gold Star membership or $130 for the Executive membership — so you’ve got to make the most of it.
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That means avoiding some of the common mistakes that can turn your prized Costco membership into a money pit. Sidestepping these trip-ups in the Costco aisles should help you get your money’s worth.
The Best Costco Buys for the Money Right Now
1. You Buy Perishable Items in Bulk
One of your favorite things about Costco is that you can buy a gigantic bag of your favorite croutons and know that you’ll be noshing on them for a few weeks or even a month. But what about a bulk-sized bag of salad mix? Probably not so much — which means you’ve spent your hard-earned cash only to watch that lettuce wilt.
If you’re in a single-person household — or a household where people don’t eat perishable items like fruits and vegetables quickly — you could be wasting money on these purchases. Instead, buy nonperishable or shelf-stable items in bulk.
2. You Don’t Understand the Secret Language of Price Tags
In a piece for Real Simple, writer Ariel Klein explained that price tags at Costco come with “a secret language.” When you don’t take the time to learn this language, you could end up missing out on deals. Here’s how Klein described the language of price tags:
Prices ending in .99 are considered full-price or regularly priced items.
Prices ending in .97 are store manager deals, meaning they’re exclusive to that store “and likely won’t be there for long.”
Prices ending in .49 and .79 “are indications of manufacturer special offers.” Klein said this means that these products are on “a trial run” to determine their popularity, suggesting that they could be below retail prices.
Items with prices ending in .00 might mean that the item is not only running low in stock but also “likely won’t be restocked.”
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Klein added that price tags with an asterisk could mean that the product will be leaving Costco soon. However, she said these products aren’t always gone for good. Pay attention to price tags so you don’t miss out on deals — or assume something is a bargain when it’s not.
3. You Shop Without a List
Ah, Costco. Where else could you go in for a big bag of croutons and walk out with fuzzy slippers and a new laptop?
However, if you don’t actually need those slippers or that laptop, you’ve probably wasted a considerable chunk of change.
Not having a list makes it easier to succumb to impulse buying. And Costco has a lot of very cool and very tempting items on the shelves. Using a shopping list to guide your Costco trip is the smarter, more budget-conscious approach.
4. You Don’t Embrace Kirkland Brand Products
Over time, you’ve probably grown attached to a few brand-name products; you also probably search for them at Costco. But if you’re not giving the retailer’s signature Kirkland brand a real chance, you could miss out on items that deliver similar quality at a lower cost.
Take dish soap as an example: A 90-ounce bottle of Dawn dish soap costs $13.99, while a 90-ounce bottle of Kirkland dish soap costs $9.99.
The breadth of Kirkland products, from coffee to outerwear, makes it easier to save money across a wide range of everyday purchases.
5. You Don’t Take Advantage of the Return Policy
Costco is known for having an excellent return policy that helps make it easy to bring back items that don’t work for you. For most products, Costco offers a “risk-free 100% satisfaction guarantee,” meaning you can typically return items for a full refund if you’re not satisfied.
However, there are some notable exceptions, which are mentioned clearly online. For example, many electronics, including TVs, computers and major appliances, must be returned within 90 days.
Letting that bag of croutons that turned out too garlicky for your taste or those slippers you impulse-bought because you forgot you had a pair at home sit unused is a waste of money. Take advantage of the return policy and get your money back when it makes sense.
The Bottom Line
Becoming a Costco member can be a great way to save money, discover new products and even enjoy the shopping experience. By avoiding a few common mistakes, you can get the most value out of your membership and ensure that annual fee pays off.
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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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