3 Ways to Save More at Costco in 2023

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These moves could help you make the most of your shopping experience. 

Some people shop at Costco once a month or less. Others make Costco part of their weekly shopping rotation.

No matter which camp you fall into, you should know that there are steps you can take to save money at Costco on top of the savings you’re already getting by gaining access to low-cost household and grocery items. Here are some ways to squeeze out extra Costco savings in 2023.

1. Stick to a shopping list

You’ll save yourself money on food by virtue of not letting it go bad or throwing it away. That’s why it pays to make a shopping list before you head out to Costco (or any other grocery store, for that matter). That list should be based on planned meals and items you know you have a near-term need for. It should also be based on how much room you have in your fridge and freezer.

After all, buying bulk produce and dairy products at Costco might result in a lower credit card tab than buying those same items at a regular grocery store. But if you wind up having to toss out half of your haul, you won’t end up with savings.

2. Buy staple items when they’re on sale

Even though Costco offers low prices on its inventory year-round, every month, it releases a deal book highlighting specific discounts for a limited period of time. It pays to look at that deal book to see which items are marked down. If you’re a Costco member, you should receive that book in the mail, but you can always access information on current specials on Costco’s website.

3. Sign up for an executive membership

A basic Costco membership costs $60 a year, while an executive membership costs double — at least for now. It’s possible that Costco will look to raise its membership fees at some point in 2023, since it hasn’t done so in years. But an executive membership could actually end up saving you money despite its higher cost.

With an executive membership, you get 2% cash back on all Costco purchases. So if you do a lot of shopping there, upgrading your membership in 2023 could result in more savings.

If you’re not sure whether an upgrade is worth it, all you really need to do is ask yourself whether you commonly spend more than $3,000 a year at Costco. Why’s that the magic number? If you do the math, 2% back on $3,000 of spending equals $60, which is what you’ll pay extra for an executive membership (a total of $120). So once your spending exceeds that point, you come out ahead financially by going for the more expensive membership.

Now $3,000 might stop being the magic number if Costco opts to raise its fees later on in 2023. But for now, you can use that number as your starting point.

Shopping at Costco is a great way to enjoy a world of savings. But if you want to take that concept even further, be sure to employ these tips.

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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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