You have felt it too, the FOMO of shopping at Costco, so many exclusive discounts just for members, so many things they offer that seem wonderful, right? It is real FOMO, not even a Bad Bunny concert or anything else can compare to shopping at Costco.
And even more now that the grocery cart is getting more and more expensive (and our supermarkets too), many people are asking the big question of the year: is it worth paying for a Costco membership? Or is it just another expense you are not going to use? Well, that is why we are here today, to clear up all your doubts!
How much does the membership cost
Costco is not free, we already know that, and the key is knowing which membership you need:
- Gold Star (the basic one) 65 dollars per year.
- Executive: 130 dollars per year, but they give you back 2 % of what you spend during the year.
Trap or opportunity?
Let’s see, it all depends on how much you spend per year on basic purchases. For the Executive membership to make sense compared to the basic one, you have to recover those extra 65 dollars with the 2 % cashback. That happens if you spend 3,250 dollars per year (about 270 per month approximately on basic purchases).
In that case, yes, the Executive would be worth it, but if you do not reach that amount, maybe you would be paying more without needing to.
“I do not spend that much”
Are you sure? Many people swear they do not reach that figure, but remember it is annual! To decide, you will have to have your receipts in hand and then make the decision. Think about everything you buy on a recurring basis, food, cleaning products, detergent, medicines, toilet paper… To that you can add gas if you have Costco Gas, diapers if there are babies at home… Or the possibility that an appliance breaks and you have to replace it… Are you sure you do not reach that amount annually?
Small mental traps
And the thing is that there are products that hook you, which is normal, because who is not going to buy that 4.99 dollar rotisserie chicken? Just for that, it already starts to be worth becoming a Costco member.
And the same happens with medicines, just by having to take a couple of pills a day it already pays off… And no, we are not on commission with Costco for recommending it so much.
What do people say?
If you take a look at social media, you will see that families with children recommend the membership for infant formula and diapers, that people with medical treatments use the discounts to buy medicines and large households use bulk shopping to save on their bills.
And what if it does not pay off after I subscribe?
Well, it is easy, if you see that it is not worth it, Costco refunds the membership fee, so trying it does not seem so risky.
Gold Star or Executive?
Do your math, if you buy little, go with Gold, Executive if you make regular purchases or there are many people at home, there is not a better one than the other, there is one that fits you better than the other.
Do not buy just to buy…
Maybe many people fail here, Costco can be a saving machine or take us to absolute madness of impulse spending, buy only what you already consume…
So… is Costco worth it?
Yes, but it is not magic, for it to be worth it you have to do your own math and see what you spend during a month in each category, if it matches your expenses, become a member, if not, you will have to watch the FOMO from afar!