A Costco membership can be a solid investment if you get value from the perks provided. But it’s not the right fit for every shopper. Some members may want to consider whether it’s time to wave goodbye to Costco.
Paying for a membership you no longer value can be a waste of money. Are you unsure whether it’s time to cancel your Costco membership? Here are a few reasons you may consider canceling your Costco membership this fall.
1. You’re wasting money on food that goes to waste
While not every item sold at Costco is packaged in bulk, many essentials are. Some bulk items, like food, can spoil quickly. If you live alone or have a smaller family and continue throwing out food waste, it may be time to cancel your membership.
A Costco membership isn’t the only way to find good deals. If you love to have fresh fruit and vegetables on hand, but don’t want to drain your checking account every time you buy produce, one option to explore is shopping at Aldi.
I looked at the weekly sales flier for Aldi and saw that zucchini is on sale for $1.19 per pound, and a 10-ounce container of grape tomatoes costs $2.29. Those are fantastic deals that may appeal to shoppers living in a smaller household. Even better, you won’t need a Costco card.
2. You’ve moved and no longer live near a club
If you’ve moved and no longer have a Costco club near your home, you’ll need to decide whether it’s still a good choice to be a Costco member. You can shop great deals at Costco.com, but you may want to explore alternative retailers if you prefer to shop in-store.
One option is to join Sam’s Club if there is a location nearby. I have some good news — the membership fee is cheaper. A standard Club membership costs $50 annually, while a Plus membership is $110 per year. The biggest benefit to becoming a Plus member is that you can earn 2% back in rewards on eligible purchases.
But if you want to avoid an annual membership fee, there are other opportunities to save money. Before you head to local retailers, review the weekly sales flier. Planning your shopping list based on what’s on sale can be a win for your wallet. Buying more affordable store-brand essentials can also make a difference.
Here’s another tip: Maximize your savings by earning rewards. By using a rewards credit card at checkout, it’s easy to get rewarded when you shop. Want to maximize your savings? Click here to view our top cash back credit cards with big rewards.
3. You always spend more than you plan
Even if you have a carefully drafted shopping list, it can be tempting to overspend at Costco. Many items are sold in bulk, and the warehouse club frequently introduces seasonal finds and new items. For those who struggle with overspending, having a Costco membership card may be a bad idea.
The last thing you want to do is rack up credit card debt from overspending at Costco. If you want to reel in your spending, canceling your membership is a good idea. Doing this can help you learn new spending habits and have more control of your money. Need help? Explore the top budgeting apps to learn how to set spending goals and monitor your progress.
You can save money without paying a yearly membership fee
This is an excellent reminder that you don’t have to pay a yearly membership fee or buy in bulk to take advantage of discounts. Look for opportunities to save money at other retailers. You can shop great deals at retailers like Target and Aldi.
If you’re ready to take a break from Costco, don’t hesitate to cancel your membership. Costco has a membership guarantee. If you’re unsatisfied with your experience, you can cancel and get a refund.
