3 Great Reasons to Join Costco in 2024

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On the fence about a Costco membership? Read on to see why it could pay to sign up in the new year. 

I’ve been a Costco member since moving to the suburbs, and I can honestly say that my membership has resulted in a ton of extra money in my savings account through the years. But some of my friends only joined Costco more recently, and some, to this day, still aren’t members despite having larger families.

I can totally see why a Costco membership isn’t for everyone. But if these factors apply to you, then you may want to at least consider one for 2024.

1. You’ve moved to a larger home with more storage

I used to live in a studio apartment with a closet so tiny I could barely fit my modest wardrobe. As such, I can totally relate to not having room to store the bulk items Costco is known for.

But if you’ve recently moved and gotten more living and storage space out of the deal, then it may be time to reconsider a warehouse club membership. Shopping at Costco could save you a lot of money on things like cleaning supplies, toilet paper, and laundry detergent. And while you definitely wouldn’t want to house a 30-pack of toilet paper in the middle of your living room, if you now have a large hallway closet, buying something like that in bulk may be more feasible.

2. You’re committed to cooking more in the new year

Many people make New Year’s resolutions that are financial in nature. And one of yours may be to cook more so you’re able to spend less on restaurants and takeout.

If that’s the case, then it pays to consider a Costco membership for the grocery savings alone. As just one example, a two-liter bottle of Kirkland (Costco’s signature brand) extra virgin olive oil is $18.99 online. And you’re likely to find an even lower price at your local warehouse club store. By contrast, you might pay almost that much for a little more than one liter at a regular supermarket.

3. Your kids are growing — and so are your grocery bills

When my kids were younger and snack time would arrive, I’d bust open one single-serving bag of cheese crackers and have them split it. Nowadays, that won’t fly. Instead, I’m lucky if I can get away with each child only eating one full bag and not requesting a second.

If your kids are getting older, you may find that you’re spending more money than you used to on grocery purchases. Shopping at Costco could help you eke out savings via bulk discounts. And if you have a lot of mouths to feed, chances are you’ll get good use out of those bulk purchases and won’t let that food go to waste.

A Costco membership isn’t for everyone. But one thing you should know is that if you find yourself unhappy with your decision to get one, you can cancel and get a prorated refund at any time. So if you think you might benefit from joining Costco in the new year, then it pays to at least give it a chance and see what happens.

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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.

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