Find out what this $5 monthly expense will get you as a member of Costco.
- A basic Costco membership costs $60 per year.
- While you’ll need to pay the yearly price at once, the annual membership averages out to only $5 per month.
- Costco offers many deals, including cheaper gas, gift cards, and eyewear.
You may have heard people brag about the great deals at Costco. But if you’re not a member, you may be wondering what perks you get when you join.
The standard membership price is $60 per year. That may sound like a lot — but when you think of it as a monthly expense of $5, it’s easy to see why so many people rave about their shopping experiences. Find out if this is an expense that makes sense for you.
How much does a Costco membership cost?
While you can score some deals at Costco without a membership, you’ll likely want to become a member to get the most out of your shopping experience.
A Gold Star membership is the base-level Costco membership. You’ll pay $60 per year for the Gold Star membership.
It’s worth noting that the $60 fee must be paid upfront. There is no option to pay your membership dues monthly.
But how you think about an expense can change how you perceive its value. Sixty dollars may seem like a lot of money, and for many people, it is. But if you think of the $60 fee and its average monthly cost of $5, it may help you better see the value of this warehouse club membership.
Here are a few perks you can take advantage of once you become a member:
1. Save money on food items and household essentials
Costco sells many grocery and household items in bulk. Many prices are lower when compared to other stores. You may be able to keep more money in your bank account while stocking up on these essentials.
2. Score cheaper gas prices
Costco members can get cheaper gas. Gas prices are at record highs across the country, so this is a valuable perk that could save you money — especially if you drive a lot.
3. Spend less on your next trip
A Costco membership could help you spend less on your next vacation. That’s because Costco offers discounts on travel purchases such as flights, hotels, cruises, rental cars, and vacation packages.
4. Get gift card deals
Gift cards are convenient to use, and they also make great gifts. Your Costco membership can unlock lower gift card prices.
5. Save money while taking care of your car
A Costco membership can help you spend less when caring for some car care needs. You can get discounts on car items like tires, windshield wipers, and car batteries.
6. Buy discounted glasses and contact lenses
You can get an affordable vision exam at Costco. But if you’re a member, you can also save money when buying glasses, contact lenses, and sunglasses.
7. Get deals on home appliances
In addition to buying household essentials, toiletries, and groceries, you can also save money on other purchases. If it’s time to replace your home appliances, you can get them at Costco and score a deal.
Is the $5 a month expense worth it?
Is the membership cost worth it? You’ll need to spend at least $60 a year to join Costco. But you’ll get many benefits for that price.
You’ll have to pay the $60 membership fee upfront, but you’re essentially paying $5 per month for the above benefits.
A Costco membership may not work well for everyone. Before investing in a Costco or Sam’s Club membership, make sure it’s the right financial move. Review your budget and consider which perks you’ll use most when deciding if you should become a member.
For additional money-saving tips, check out these personal finance resources.
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