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Want to make the most of your Costco membership? Then read on for some mistakes to avoid at all costs.
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Many people shop at Costco regularly. And if you’re one of them, you may feel that you’re a pro at this point. You know which aisles to hit to find the items you need, and you know exactly how to spot a Costco clearance sale (hint: look for those prices that end in “97”).
But even if you’re someone who shops at Costco frequently, it’s all too easy to fall into certain traps. Here are a few mistakes you may be making to this day without even realizing it.
1. Avoiding Kirkland products
If you’re a Costco regular, you’re probably well aware that you’ll find the Kirkland label on a host of products, from baked goods to spices to dairy products. But if you’re someone who routinely avoids Kirkland products because it’s not the brand you know and love, then you may be making a major mistake.
Not only do Kirkland products tend to be high in quality, but they can be substantially cheaper than their name-brand counterparts. And here’s the kicker — many Kirkland products are actually made by well-known brands.
Kirkland’s Signature House Blend Coffee in medium roast, for example, is made by none other than Starbucks. And this isn’t one of those facts you have to dig around the internet to learn about — it says so right there on the product’s label. So rather than write off Kirkland items, give them a try and see if they result in a lower credit card bill.
2. Shopping on weekends
Shopping at Costco can be overwhelming in its own right. Throw in the crowds that tend to emerge on the weekends, and it can make for a very frazzling experience.
A better bet? Shop at Costco during your lunch hour if you work from home and have that flexibility, or hit the store in the evening once work has wrapped up for the day. Being able to shop in a calm manner could lead you to make better decisions.
3. Passing up the free samples
You may be inclined to say no to Costco’s free samples because you don’t want to seem greedy. Don’t continue that practice.
Costco wants members to try its products for free because often, those samples lead to extra sales. But on your part, sampling food products could help you avoid wasting money. If you try a multigrain cracker that looks delicious based on the packaging but tastes vile, you’ll save yourself the needless bulk purchase.
4. Sticking to a basic membership
A basic Costco membership might seem sufficient for you, and at $60 a year, it may be a more appealing price point than the $120 you’ll pay for an executive membership. But upgrading to an executive membership could actually be a more financially sound move when you consider the cash back it puts in your pocket.
Executive members at Costco earn 2% back on all in-store and online purchases. So if you spend more than $3,000 a year at Costco, then an Executive membership makes financial sense. Take a little time to review your Costco spending over the past 12 months, because you might find that an Executive membership is worth paying for.
A Costco membership can result in a lot of savings — if you play your cards right. Aim to avoid these mistakes so you can make the most of yours.
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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.
